HK Stock Market Move | TWINTEK (06182) resumed trading with a high opening price increase of over 42%, change in controlling shareholder, and a discount of approximately 74.3% for a full purchase offer.

TWINTEK (06182) resumed trading with a high opening of over 42%, as of the time of writing, it has risen by 42.11% to 1.35 Hong Kong dollars, with a trading volume of 1.674 million Hong Kong dollars. In terms of news, TWINTEK announced that its original shareholders Helios, Lu Peiying, and Lu Jiajun will sell a total of 600 million shares to the independent third party Mars Nest (offeror) and Li Haoyuan for a total price of approximately 146 million Hong Kong dollars. After completion, the offeror and its concerted parties will collectively hold 75% of the company's capital stock, and will be required to make a mandatory offer at a cash price of 0.24375 Hong Kong dollars per share, representing a discount of 74.34% compared to the pre-suspension closing price. After the deadline, the offeror intends to maintain the company's listing status and change its Chinese name to "Bit Freedom Holdings Limited".