HK Stock Market Move | MEXAN(00022) opens over 3% higher. The Lund family plans to sell 67.47% of the company's equity for a maximum cash amount of 230 million Hong Kong dollars.

MEXAN (00022) opened more than 3% higher, rising 3.64% to 0.285 Hong Kong dollars as of the time of writing, with a transaction amount of 150 million Hong Kong dollars. In terms of news, MEXAN (00022) announced that its controlling shareholder intends to sell a maximum of 1.327 billion shares, accounting for approximately 67.47% of the issued share capital. The price per share is 0.17 Hong Kong dollars, representing a 38.2% discount to the previous trading day's closing price, allowing for a maximum cash withdrawal of 230 million Hong Kong dollars. After completion, Winland Wealth will no longer hold any shares in the company, and will therefore no longer be the controlling shareholder of the company. It is reported that this shareholder is indirectly wholly owned by the company's executive director and chairman of the board, Lun Yaoki.