HK Stock Market Move | REALWAY CAPITAL(01835) resumes trading with a surge of over 240%, change in controlling ownership brings in new owner with background in smart driving technology.

REALWAY CAPITAL (01835) resumed trading this morning and surged more than 240% at one point. As of the time of writing, it increased by 231.82% to HK$4.38 with a turnover of HK$4.7485 million. On the news front, on the evening of June 30, REALWAY CAPITAL announced that the offeror 3G Limited subscribed for a total of 150 million new H shares; in addition, the vendors (including Shanghai Weimian, Shanghai Weiyue, Shanghai Weihui, and Shanghai Zunwei) sold 45 million domestic shares; to meet public shareholding, the company will issue up to 50 million new H shares through placement agents at HK$0.8 per share. After completion, the offeror and persons acting in concert will hold approximately 195 million shares, accounting for about 55.19% of the expanded share capital, therefore the offeror is required to make a mandatory unconditional cash offer. The cash offer price is HK$0.8 per share, representing a discount of about 39.39% to the pre-suspension closing price of HK$1.32 per share. The offeror intends to maintain the listing status of the shares on the Stock Exchange. The offeror is wholly owned by Liu Kun. Data shows that Liu Kun has rich experience in strategic planning and investment analysis, especially in the field of intelligent driving and artificial intelligence. Since August 2018, he has been a member of the Investment Decision Committee of Ningbo Chentao Intelligent Driving Equity Investment Fund LP, whose investment objective is to make private equity investments in companies focusing on intelligent driving and artificial intelligence to achieve long-term capital appreciation. Since December 2023, he has served as the General Manager of Xinjiang Easicontrol Intelligent Driving Technology Service Co., Ltd.