HK Stock Market Move | SINO GOLF HOLD (00361) rises more than 10% in the final trading session. HanCheng Group previously announced the completion of SINO GOLF HOLD equity transfer.

SINO GOLF HOLD (00361) surged more than 10% in the afternoon session, rising 9.35% to HKD 0.117 by the time of publication, with a trading volume of HKD 2.3206 million. In terms of news, SINO GOLF HOLD announced at noon that a mandatory unconditional cash offer to acquire all issued shares (excluding those owned and/or agreed to be acquired by the offeror's concerted action group) has been proposed by the Industrial and Commercial Bank of China International. The offeror's concerted action group has owned and/or agreed to be acquired by the offeror. It is reported that on November 12, Han Cheng Group announced the successful completion of the equity delivery of SINO GOLF HOLD. The completion of this delivery signifies the successful strategic investment of Han Cheng Group in SINO GOLF HOLD. Previous analysis has pointed out that one of the core purposes of Han Cheng Energy Group's acquisition of SINO GOLF HOLD may be to achieve a reverse merger for its own listing.