HK Stock Market Move | DONGFENG GROUP(00489)rose more than 3%, the privatization and split-up of LanTu have all been completed

DONGFENG GROUP (00489) rose more than 3%, rising by 3.18% to 9.4 Hong Kong dollars, with a trading volume of 108 million Hong Kong dollars at the time of writing. In terms of news, on the morning of February 12, Dongfeng Motor Group and the offeror Dongfeng Motor Group (Wuhan) Investment jointly announced that all the prerequisites for the privatization of DONGFENG GROUP through absorption and merger, as well as the introduction of Lantu through a spin-off, have been fully met, and the transaction will enter the final implementation stage. According to the merger agreement, the offeror has agreed to pay cash consideration to all H-share shareholders, with a cancellation price of 6.68 Hong Kong dollars per H-share. After all the merger prerequisites and effective conditions are met, DONGFENG GROUP will apply to the Hong Kong Stock Exchange for voluntary delisting of H shares. At the same time, DONGFENG GROUP will distribute its shares of Lantu to existing shareholders, and apply for the introduction of Lantu H shares for listing on the Hong Kong Stock Exchange. This spin-off does not involve fund raising.