IDT International Limited (167), Hong Kong Hunglap Technology Co., Limited, and Horizon Heights Ltd. jointly announced that on 22 October 2025, the purchasers (Hong Kong Hunglap and Horizon Heights) acquired 312,432,503 shares in IDT International (representing about 72.10% of its issued share capital) from a receiver. The purchase price totaled HK$185,616,150 (equivalent to approximately HK$0.5941 per share). Completion took place on 30 October 2025.

Following this transaction, a mandatory unconditional cash offer was triggered under the Takeovers Code for all remaining shares not already owned or agreed to be acquired by the joint offerors. The offer price is HK$0.5941 per share, the same as the purchase price. The maximum consideration for the offer is approximately HK$71.8 million if fully accepted, financed by internal resources. The joint offerors have stated there will be no increase in the offer price.

IDT International’s latest interim figures for the six months ended 30 June 2025 show revenue of HK$47.4 million and profit attributable to owners of the company at HK$62.6 million. Net assets as of 30 June 2025 amounted to HK$71.1 million.

An Independent Board Committee comprising all non-executive and independent non-executive directors of IDT International has been formed to advise shareholders on the offer’s fairness and reasonableness. A composite document outlining details will be distributed in accordance with Takeovers Code requirements, and trading in IDT International shares resumed on 18 November 2025. Shareholders and potential investors are advised to exercise caution when dealing in the stock.