HK Stock Market Move | MAN SHUN GP(01746) resumes trading with a surge of over 34%, Chairman Zhang Yuantong and others have a potential intention to sell 75% of the shares or trigger a forced acquisition.

MAN SHUN GP (01746) resumed trading with an increase of more than 34%, as of the time of writing, it has increased by 34.12% to HK$0.57, with a turnover of HK$4.0538 million. On the news front, MAN SHUN GP announced that its executive director and chairman Zhang Yuantong and executive director Zhang Yuanqiu, as sellers, have entered into a letter of intent with Sichuan WanEspressif Systems. According to the letter of intent, the sellers may sell their shares to a potential buyer, if realized, it may result in a change of control of the company and trigger a mandatory general offer for all issued shares under the takeover code. The sellers hold 750 million shares of the company indirectly through Prime Pinnacle, accounting for 75%.