HK Movers | China Financial Leasing Group Soars 243% After Announcing Share Acquisition and Mandatory Offer

China Financial Leasing Group Limited has announced a series of conditional agreements involving the sale and purchase of its shares by Longling Capital Ltd.

China Financial Leasing Group shares soared 243% in Hong Kong.

The transactions result in Longling Capital Ltd acquiring approximately 34.96% of the company’s shares, triggering a mandatory conditional cash offer for the remaining shares.

The offer price is set at HK$0.38 per share, matching the purchase price in the agreements.

The offer is contingent upon Longling Capital Ltd and its affiliates securing more than 50% of the company’s voting rights.

The company aims to maintain its listing status on the Hong Kong Stock Exchange, ensuring sufficient public float post-offer.