Max Sight: Mandatory Offer by CWT Limited Closes with 0.14% Uptake; Public Float Drops Below HKEX Threshold

Bulletin Express
10/02

Max Sight Group Holdings Limited (Max Sight) and CWT Limited (Offeror) have announced the closure of the latter’s mandatory unconditional cash offer for all issued shares of Max Sight not already owned by the Offeror or its concert parties. The offer, launched through Central China International Capital Limited, closed at 4:00 p.m. on 2 October 2026 without revision or extension.

Only four valid acceptances were received, covering 1.14 million shares—equivalent to 0.57% of the 200 million shares under offer and 0.14% of Max Sight’s total issued share capital of 800 million shares. At the offer price of HK$0.0875 per share, the aggregate cash consideration amounts to HK$0.10 million. Payments to accepting shareholders are scheduled to be dispatched within seven business days of acceptance receipt, and no later than 13 October 2026.

Prior to the offer period, the Offeror, its ultimate beneficial owners, and parties acting in concert held 600 million shares (75.00% of issued capital). Following registration of the accepted shares, their stake rises marginally to 601.14 million shares, or 75.14%. Consequently, Max Sight’s public float declines to 198.86 million shares, representing 24.86% of issued capital, below the 25% minimum required under GEM Listing Rule 17.37B.

To rectify the shortfall, the Offeror and incoming directors have undertaken to restore compliance, potentially through placing or selling acquired shares to independent third parties. Max Sight will seek a temporary waiver from the Hong Kong Stock Exchange and issue further announcements on progress.

There were no other share acquisitions, disposals, or securities dealings by the Offeror or its concert parties during the offer period.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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