HK Stock Movement | JIANGXI COPPER (00358) Rises Over 3% in Early Trading After Revised Potential Offer for SolGold

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JIANGXI COPPER (00358) surged more than 3% in early trading, reaching HK$35.78 with a turnover of HK$82.65 million. The company announced a revised potential offer for the acquisition of shares in SolGold plc.

On December 12, JIANGXI COPPER and SolGold agreed to modify the terms of the potential offer made by JIANGXI COPPER (Hong Kong) Investment Limited. The revised offer values SolGold's entire issued and to-be-issued ordinary share capital at approximately £842 million.

This represents a premium of about 42.9% over SolGold's closing price of 19.6 pence on November 19 (the last trading day before initial discussions). It also reflects a 58.5% premium over the three-month volume-weighted average price (VWAP) of around 17.6 pence as of November 27 (the last trading day before the initial proposal). Additionally, the offer shows a 136% premium over the 12-month VWAP of approximately 11.8 pence and a 7.1% premium over SolGold's closing price of 26.2 pence on November 27.

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