HK Stock Movement | ADD NEW ENERGY (02623) Rises Nearly 7% in Early Trading as Controlling Stake to Be Transferred to PIH
Stock News
Dec 01, 2025
ADD NEW ENERGY (02623) surged nearly 7% in early trading, rising 4.49% to HK$4.89 by the time of writing, with a turnover of HK$2.4866 million. The company announced that PIH and Wu Haigan have completed the acquisition of a 55.66% stake for a total consideration of HK$80 million, triggering an unconditional mandatory general cash offer under Hong Kong market rules. PIH will become the new controlling shareholder. According to the announcement, the offeror intends to maintain the company's existing core business and listing status post-offer while exploring potential business opportunities. It may also consider asset acquisitions, disposals, fundraising, or restructuring plans to diversify operations and drive long-term growth.
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