OCFT (06638) intends to be privatized by its controlling shareholder, Platinum Royal, at a considerable premium. It will resume trading on March 4th.

OCFT (06638) announced that on February 28, 2025, the Company's shares experienced abnormal trading volume and price fluctuations. The Board of Directors hereby notifies its shareholders that on March 1, 2025, the Company received a preliminary non-binding proposal from Platinum Jade (together with its affiliated entities referred to as the "Proposed Buyer") to privatize the Company by way of an agreement arrangement. If the proposal proceeds, it will result in the Company being delisted from both the Stock Exchange of Hong Kong and the New York Stock Exchange (Indicative Proposal). A copy of the Indicative Proposal is attached to this joint announcement as Appendix A, which will also be filed as an exhibit to Form 6-K with the U.S. Securities and Exchange Commission. As of the date of this joint announcement, based on information available to the Company, Platinum Jade directly holds 353,077,356 shares (approximately 30.18% of the Company's total issued share capital) and is a controlling shareholder of the Company, as well as an affiliate of Ping An Insurance (Group) Company of China, Ltd. (Ping An Group). Based on information available to the Company as of the date of this joint announcement, Ping An Group (through its affiliates, including Platinum Jade) holds 375,764,724 shares (approximately 32.12% of the Company's issued share capital). As stated in the Indicative Proposal, Platinum Jade proposes to acquire the Company at a cash price of HKD 2.068 per share (equivalent to approximately USD 7.98 per American Depositary Share of the Company). The offer price represents a premium of 72.33% over the closing price of HKD 1.200 per share on February 27, 2025 (the last trading day before the abnormal trading volume and price fluctuations). In addition, the Company has applied to the Stock Exchange of Hong Kong for the resumption of trading in its shares from 9:00 a.m. on March 4, 2025 (Tuesday).