TWINTEK (06182) Changes Control with 74.3% Discount Takeover Offer, Resumes Trading on Nov 5

Stock News
Nov 04, 2025

TWINTEK Investment Holdings (06182) and the offeror, Mars Nest Limited, jointly announced that on October 28, 2025, the offeror and Mr. Li Haoyuan acquired 510 million shares and 90 million shares, respectively, representing 63.75% and 11.25% of the company's total issued share capital as of the announcement date. The total consideration amounted to approximately HKD 124 million and HKD 21.9375 million, equivalent to HKD 0.24375 per share. Following the completion of the transaction, the offeror and its concert parties collectively hold 600 million shares, constituting 75% of the company's total issued share capital. Under Rule 26.1 of the Takeovers Code, the offeror is required to make a mandatory unconditional cash offer for all issued shares at HKD 0.24375 per share, representing a 74.3% discount to the last closing price of HKD 0.950 per share on the stock exchange. The company has applied to resume trading on the Hong Kong Stock Exchange starting at 9:00 AM on Wednesday, November 5, 2025. As of the announcement date, the offeror is wholly owned by Mr. Liu Chuang, who also serves as its sole director. Additionally, the offeror proposed changing the company's English name from "Twintek Investment Holdings Limited" to "Bitfree X Holdings Limited" and adopting the Chinese dual foreign name "比特自由控股有限公司" (Bitfree Holdings Limited) to replace the existing "乙德投资控股有限公司" (TWINTEK Investment Holdings Limited) after the offer's completion.

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