HK Stock Market Move | CHINA SHENGMU (01432) rose nearly 6% in intraday trading. In recent days, CH MODERN D, represented by CITIC CLSA, has made a takeover offer to the company.

CHINA SHENGMU (01432) rose nearly 6% during trading, as of the time of writing, it was up by 5.8%, at HK$0.365, with a turnover of HK$9.7716 million. On the news front, on January 19th, CH MODERN D and CHINA SHENGMU jointly announced that China International Capital Corporation Limited, on behalf of CH MODERN D Holdings, proposed a possible conditional mandatory cash offer to acquire all issued shares of CHINA SHENGMU (excluding those already owned or agreed to be acquired by CH MODERN D Holdings and Start Great Holdings Limited). The offer is subject to the completion of a share purchase agreement, the fulfillment of related conditions precedent, and obtaining approval or waiver before the final deadline. As of the announcement date, apart from the conditions listed in the share purchase agreement, other conditions precedent have not been met or waived. CH MODERN D Holdings has obtained approval from independent shareholders for the proposed transaction. The announcement emphasizes that the offer is only a possible conditional mandatory cash offer, and there is uncertainty regarding the completion of the share purchase agreement and the proposal of the offer.