Winfoong International (00063) said offeror HK Guoxin Investment Group Limited will make unconditional mandatory cash offers for all the issued shares of Winfoong following its proposed acquisition of about 62.61% equity interests at HK$598 million.
The offer price will be HK$0.3619 per share, representing a discount of about 42.56% to the last trading price of HK$0.63.
The offeror intends to maintain the listing of Winfoong shares on the Stock Exchange after the close of the offer and continue the existing principal businesses of the Group.
The offeror is wholly owned by Li Feng Mao. Li is an entrepreneur focused in investment holding and management of various enterprises mainly located in the Jilin province, PRC covering railroad communication & logistics, mining and refinery, natural resources, property development, banking, and financial leasing.
Winfoong had applied for the resumption of trading in shares this morning.
07/10/2015 08:34
HK Guoxin Investment to make offer for Winfoong (00063)
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