HK Stock Market Move | Afternoon trading resumed, soaring over 300%, receiving a discount of about 48.7% to meet the full purchase offer.

ADD NEW ENERGY resumed trading in the afternoon and soared by over 300%, with a rise of 326.25% as of the time of drafting, reaching 3.41 Hong Kong dollars with a trading volume of 12.2651 million Hong Kong dollars. On the news front, ADD NEW ENERGY announced that a major shareholder has sold 195 million shares, accounting for 55.66% of the company's issued share capital, to Prominence Investment Holding Company Limited (the offeror) and Wu Haigan for a cash consideration of 80 million Hong Kong dollars, equivalent to 0.4103 Hong Kong dollars per share. This represents a discount of 48.7% compared to the pre-trading price of 0.8 Hong Kong dollars. The offeror will make an unconditional mandatory general cash offer for the remaining shares at 0.4104 Hong Kong dollars per share and will pay a total consideration of approximately 63.746 million Hong Kong dollars for the offer. The offeror intends to continue operating the group's existing main business after the offer ends and to maintain the shares listed on the Stock Exchange of Hong Kong. The offeror has no intention of using any of its powers to acquire any outstanding shares by compulsory acquisition after the offer ends.