INNOVAX HLDGS (02680) surged over 50% again today, with the stock having resumed trading yesterday and achieving a doubling of its share price in just two trading days. At the time of writing, the stock was up 50% to HKD 12, with trading volume reaching HKD 30.0239 million.

On the news front, INNOVAX HLDGS announced on the evening of October 10 that Chairman Zhong Zhiwen transferred a 75% stake to independent third party Wang Tingfa, involving 45 million shares with a total consideration of HKD 270 million. Following completion, a mandatory general offer must be made at HKD 6 per share in cash, representing a 6.01% premium to the pre-suspension closing price. The offeror intends to maintain the listing status of the shares on the Stock Exchange after completion.

Additionally, the company announced that it expects to achieve a profit and comprehensive income of approximately HKD 15 million to HKD 20 million for the six months ending August 31, 2025, compared to a loss and comprehensive expense of approximately HKD 22.9 million for the six months ending August 31, 2024.