Mao's Kee Wai Chung announced that it will resume trading from the morning of March 13

SadMoneyMeow · 2026-03-13T08:07:18+00:00

Mao Kee Kui Chung (01716) announced that Xiao Jun Legend Limited completed the acquisition of 175.5 million shares of Blackpaper Limited on March 12, 2026, for HK$122.2 million, at an acquisition price of approximately HK$0.6963 per share, representing a 42.45% discount to the market price. After the offer period ended, the shares will resume trading on March 13, 2026.

SadMoneyMeow

2026-03-13 08:07:18

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Maoji Kwai Chung (01716) and the offeror, Xiaojun Legend Limited, jointly announced that the offeror completed the purchase of 175.5 million shares from Blackpaper Limited on March 12, 2026, representing 65% of the company’s issued share capital as of the date of this joint announcement. The total cash consideration was HKD 122 million (approximately HKD 0.6963 per share). Under Rule 26.1 of the Takeovers Code, the offeror must make a mandatory offer for all issued shares not already owned or agreed to be acquired by the offeror, Dr. Ma Liyang, and any concert parties. The offer price is HKD 0.6963 per share, representing a discount of about 42.45% to the last traded price of HKD 1.21 per share on the Stock Exchange. If the offer is fully accepted, the total consideration will be HKD 65,580,350. The offeror intends to maintain the company’s listing on the Stock Exchange after the offer concludes.

Additionally, the company has applied for the trading of its shares to resume on the Stock Exchange starting at 9:00 a.m. on March 13, 2026.

(Chief Editor: Wang Zhiqiang HF013)

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