Major Holdings (01389) resumed trading today and briefly surged nearly 170%. As of the time of writing, the stock has pulled back from its highs and is up 32.69%, now trading at HK$0.69, with a turnover of HK$4.5582 million.

Major Holdings and Max Premier, a major shareholder of Mansion Holdings, jointly announced that MP, as the offeror, will acquire 53.77% of the shares from other shareholders for HK$102 million through a mandatory unconditional cash offer at HK$0.3428 per offer share, representing a discount of approximately 34% to the suspension closing price of HK$0.52.

The announcement stated that the maximum cash amount payable by the offeror if the offer is fully accepted is approximately HK$87.84 million. The offeror intends to continue employing the group's existing management and employees, proposes to nominate new directors to join the board, and plans to maintain the shares' listing status after the offer closes. The offeror is owned 62% and 38% by Zhao Chuanrong and Chen Jixiang, respectively.