HK Stock Market Move | ADD NEW ENERGY (02623) Rose more than 13% in the early trading session, receiving a discount of approximately 48.7% to make a full buyout offer. The offeror will maintain the company's listed status.

ADD NEW ENERGY (02623) surged more than 13% in early trading, as of the time of writing, it was up 4.83% at 3.04 Hong Kong dollars, with a trading volume of 3.7414 million Hong Kong dollars. In terms of news, ADD NEW ENERGY announced that its major shareholder has sold 195 million shares, accounting for 55.66% of the company's issued capital, to Prominence Investment Holding Company Limited (offeror) and Wu Haigan for a cash price of 80 million Hong Kong dollars, equivalent to 0.4103 Hong Kong dollars per share, with a discount of 48.7% compared to the pre-suspension price of 0.8 Hong Kong dollars. The offeror will make an unconditional mandatory full-cash offer for the remaining shares at 0.4104 Hong Kong dollar per share, with a total offer price of approximately 63.746 million Hong Kong dollars. The offeror intends to continue operating the group's existing main businesses after the offer ends. The offeror intends to maintain the listing of the shares on the Stock Exchange after the offer ends.