Kelfred (HKG:1134) said controlling shareholder Conquer Holding is in talks with a potential buyer over a possible sale of its 54.19% stake, following unusual price and volume movements on Nov. 3, according to a Friday Hong Kong bourse filing.

The company has also been informed that the potential purchaser is in discussions with certain minority shareholders, including independent non-executive director Leung Ka Tin.

No terms, including price, have been agreed upon, the company said.

If a deal is signed and completed, the buyer and its concert parties would be required to make a mandatory general offer.

Kelfred's shares, halted since Nov. 4, resumed trading on Friday and jumped over 29% by midday.