HK Stock Market Move | GRACEWINE(08146) resumed trading and surged 1.6 times, change in controlling stake, a discount of nearly 53% in a full purchase offer.

GRACEWINE (08146) resumed trading and surged 160% at one point, rising 86.79% to HK$0.495 as of the time of writing, with a turnover of HK$1.655 million. On the news front, GRACEWINE announced that the offeror Hill Valley Investment Co Ltd intends to acquire a total of approximately 589 million shares at a total cost of approximately HK$73.6298 million, representing approximately 73.63% of the issued share capital. Following completion, the offeror and its concerted parties must make a mandatory unconditional cash offer at a cash offer price of HK$0.12491 per share, representing a discount of approximately 52.86% to the closing price of HK$0.265 per share before the suspension. The offeror is Yang Lingjiang, who intends to maintain the company's listing on the Hong Kong Stock Exchange.