CENT UNIT HLDG (01959) saw its shares surge more than 15% in afternoon trading. At the time of writing, the stock was up 9.09%, trading at HK$3.12 with a turnover of HK$10.76 million.

The rally follows the company's recent announcement that Chairman Luo Houjie sold a 71.12% stake, involving 376.9 million shares, for a total consideration of approximately HK$153 million. Upon completion of the transaction, the offeror is required to make a mandatory general offer at a cash price of HK$0.94 per share, representing a 66.78% discount to the last closing price before the trading halt.

The offeror is 99% owned by Mok Ming Tung, an executive director of MOG DIGITECH (01942). Post-acquisition, the company intends to maintain its listed status.