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MOST KWAI CHUNG Founders Sell Stake at 42.4% Discount for HKD122M
Recommend 12 Positive 16 Negative 19 |
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MOST KWAI CHUNG (01716.HK) plans to sell its stake. According to the disclosure of interests from HKEX (00388.HK), two founders and major shareholders, Iu Kar Ho and Luk Ka Chun, sold 175.5 million shares or 65% of MOST KWAI CHUNG through an off-market transaction at a price of HKD0.6963 per share on March 5. This price represented a discount of around 42.4% to the closing price of HKD1.21 before the trading suspension. The shares were sold to Brave Steed Legacy Limited, a company wholly owned by Ma Liyang. The total transaction amount of HKD122 million implied an overall valuation of MOST KWAI CHUNG at HKD188 million. AAStocks Financial News |
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