HK Stock Market Move | JIANGXI COPPER (00358) opened nearly 5% higher, planning to acquire shares of overseas listed company SolGold Plc.

Jiangxi Copper (00358) opened nearly 5% higher, rising 4.82% to HK$32.16 as of the time of publication, with a turnover of HK$1000.18 million. On the news front, on November 30th, Jiangxi Copper announced that the company has submitted two non-binding cash offers to SolGold Plc, a London Stock Exchange-listed company, intending to acquire all of its shares at a price of 26 pence per share. Currently, the company holds 12.19% of the target's shares, but the acquisition is still in the informal offer stage and has been rejected by the target company's board of directors. The company reserves the right to make a formal offer, but there is uncertainty as to whether it will proceed. According to the UK City Code on Takeovers and Mergers, the company must issue a formal offer announcement or a clear statement of abandonment of the acquisition by December 26, 2025.