China Innovation Investment Limited (1217) issued an offer document relating to a voluntary conditional cash partial offer to acquire 180,000,000 shares of Elife Holdings Limited (223). The offer price is set at HK$0.056 per share, and the transaction is arranged by Mango Financial on behalf of China Innovation Investment.

According to the document, the offer covers shares not already held by the offeror and its concert parties, representing approximately 13.27% of Elife Holdings’ issued share capital. The total maximum consideration is HK$10.08 million, funded by internal cash resources. The partial offer will become unconditional if valid acceptances reach at least 180,000,000 shares.

The first closing date is scheduled for 22 December 2025, which is at least 28 days from the date of the document. If acceptance levels meet the required threshold before or on that date, the offeror will declare the offer unconditional as to acceptances, and it will remain open for at least 14 days thereafter. The final closing date may therefore be on or before 5 January 2026, subject to the Takeovers Code.

Elife Holdings, which has 1,356,171,754 shares in issue as of the document’s latest practicable date, is currently suspended from trading. The current public float is noted at about 68.47%. Upon completion of the transaction (assuming full acceptance), China Innovation Investment would hold close to 29.94% of Elife Holdings, keeping more than 25% of the shares in public hands and maintaining the listing status.

The offer document also sets out further terms and conditions, including payment arrangements and instructions for shareholders wishing to accept the offer. Shareholders with questions about procedures or the timeline are encouraged to review the detailed terms. Trading in the shares of Elife Holdings has remained suspended since 2 December 2024, and no date has been specified for its resumption.