MOST KWAI CHUNG (01716) resumed trading this morning and saw an increase of over 43% at one point, reaching a high of HK$1.74. As of the time of writing, the stock is up 24.79%, currently trading at HK$1.51, with a turnover of HK$66.2923 million.

On the evening of March 12, MOST KWAI CHUNG announced that its former controlling shareholder, Blackpaper Limited, has sold a 65% stake, involving 175.5 million shares, to an independent third party, Dr. Ma Liyang, for a total consideration of HK$122 million. This equates to a price of HK$0.6963 per share. Following the completion of this transaction, the buyer is required to make a mandatory unconditional cash offer for all remaining shares at the same price of HK$0.6963 per share, which represents a discount of approximately 42.45% to the last closing price before the trading halt. Upon conclusion of the offer, the offeror intends to maintain the company's listing status.