CPMC Holdings (HKG:0906) expects its privatization to conclude on April 17 and its shares to be delisted from the Hong Kong bourse on April 22, a Jan. 22 bourse filing said.
The packaging company received a takeover offer from Huarui Fengquan Development on June 7, 2024.
Huarui Fengquan Development closed its takeover offer in January with a 98.59% stake in CPMC after other shareholders agreed to sell their 825,703,616 million shares in the company.
Huarui Fengquan Development will exercise its rights to compulsorily acquire the remaining 1.41% stake it does not already own, leading to the privatization of CPMC.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.