HK Stock Market Move | MEGAIN(06939) resumed trading with a 166% high open, intending to receive an 18.7% discount offer from Greenland China for a full purchase offer.

MEGAIN (06939) resumed trading with a high open of 166%, as of the time of the report, it had risen by 166.67% to 2 Hong Kong dollars with a trading volume of 1.7 million Hong Kong dollars. On the news front, MEGAIN announced that three shareholders have sold a total of 40.67% of the shares to the independent third party Geehy International (offeror), involving 2.11 billion shares, with a total price of 105.5 million Hong Kong dollars, equivalent to a price of 0.5 Hong Kong dollars per share. At the same time, the company issued 103 million new shares to the offeror at a price of 0.61 Hong Kong dollars per share, raising a net amount of 61.28 million Hong Kong dollars, which will be used for chip product research and development, solution products, marketing promotion, and general operating funds. After completion, the offeror will hold a total of 50.56% of the company's share capital, and must submit a mandatory general offer, offering a cash price of 0.61 Hong Kong dollars per share, a discount of 18.67% compared to the price before the suspension. It is reported that the offeror is an indirectly wholly-owned subsidiary of Apex China, which is directly owned by Ninestar Corporation with 81.084%, National Integrated Circuit Industry Investment Fund Phase II with 7.895%, and 21 other minority shareholders each holding less than 5% of Apex China.