Greentech Technology International (HKG:0195) said Mangkon Road, the entity seeking to acquire a 15% stake in the company for HK$28.7 million, has obtained the approval for the partial cash offer from the executive director of the corporate finance division of Hong Kong's Securities and Futures Commission.
The offeror also obtained a waiver from strict compliance with Rule 28.7 of the Takeovers Code from the said regulatory officer, a Friday bourse filing said.
On Jan. 14, Mangkon Road, an investment holding company, expressed its intention to make a partial offer for up to 204.9 million shares of Greentech Technology International at a price of HK$0.14 per share.
Price (HKD): $0.28, Change: $-0.16, Percent Change: -35.63%
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