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BRIGHT SMART Opens 60%+ Higher on Shr Trading Resumption as Controlling Stake Changes to Ant Holdco, Triggering Tech Buyout
2025-04-28 09:24:46 BRIGHT SMART (01428.HK) resumed trading in its shares this morning (28th), and opened 60.66% higher at $4.9, with 10.22 million shares traded in pre-opening session, involving $50.078 million. BRIGHT SMART announced on last Friday (25th) that Chairman Peter Yip transferred 50.55% of its shareholding, involving 857 million shares, to Ant Holdco (the Offeror) at a total consideration of $2.814 billion, equivalent to $3.28 per share. Upon completion, the Offeror and the Offeror Concert Partieswill hold 50.55% of the Company's share capital, and will be required to make a mandatory cash offer in accordance with the rules, at a cash price of $3.28 per share, representing a premium of 7.54% over the closing price before trading halt, involving a maximum capital of $5.285 billion. Subsequent to the closing of the Offer, the Offeror intends to adjust the amount of the final dividend to be declared compared to previous financial years, and intends to nominate new Directors to the Board and replace certain directors of the subsidiaries of the Company. At the same time, it is intended to maintain the listing of the shares of the Company. Currently, Ant Holdco is indirectly held 33% by BABA-W (09988.HK). ~ AAStocks Financial News Web Site: www.aastocks.com | |