Goldlion Resumes Trading After Take-Private Offer Fails to Materialize

MT Newswires Live

05/13

Goldlion (HKG:0533) resumed trading on Monday after a proposal to privatize the company did not materialize after failing to reach the required 75% threshold.

Only 55.3% of shareholders voted in favor of the proposal, equivalent to 99,740,051 shares, while 44.7% were against it, according to a Friday filing with the Hong Kong bourse.

Grand Sunny proposed to take the menswear company private by purchasing 304,314,535 shares, or 31.25% of the entire shareholding of the company, for HK$1.5232 apiece, according to a Dec. 17, 2024, filing with the Hong Kong bourse.

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