HK Stock Market Move | JIANGXI COPPER (00358) rose over 3% in early trading. Recent potential offer changes have involved adjusting the valuation of the acquisition of Sol Gold.

JIANGXI COPPER (00358) rose more than 3% in early trading, up 3.23% as of press time, to HK$35.78, with a turnover of HK$82.6548 million. On the news front, JIANGXI COPPER announced that on December 12, the company and SolGold plc (SolGold), a potential acquisition target of an overseas listed company, agreed to a revised potential offer from Jiangxi Copper (Hong Kong) Investment Limited to SolGold. The announcement stated that the revised potential offer valued the entire issued and to be issued ordinary share capital of SolGold at approximately 842 million, representing a premium of approximately 42.9% to SolGold's closing price of 19.6 pence per share on November 19 (the last trading day before Jiangxi Copper first contacted the SolGold board); a premium of approximately 58.5% to SolGold's 3-month volume weighted average share price of approximately 17.6 pence per share until November 27 (the last trading day before SolGold announced Jiangxi Copper's initial proposal); a premium of approximately 136% to SolGold's 12-month volume weighted average share price of approximately 11.8 pence per share until November 27; and a premium of approximately 7.1% to SolGold's closing price of approximately 26.2 pence per share on November 27.