IDT INT'L (00167) Receives Takeover Offer at 68.90% Discount, Resumes Trading on November 18

Stock News2025-11-17

IDT INT'L (00167), along with joint offerors Horizon Heights Limited and Hong Kong Holly Technology Limited, announced that the joint offerors completed the acquisition of approximately 312.4 million shares on October 30, 2025, representing about 72.1% of the company's issued share capital. The total consideration amounted to approximately HK$185.6 million, equivalent to HK$0.5941 per share.

Under Rule 26.1 of the Takeovers Code, the joint offerors are required to make a mandatory unconditional cash offer for all issued shares (excluding those already owned or agreed to be acquired by the joint offerors or their concert parties) at HK$0.5941 per share. This represents a discount of approximately 68.90% compared to the last trading day's closing price of HK$1.91 per share on the Hong Kong Stock Exchange.

The company has applied for the resumption of trading of its shares, which will take effect from 9:00 a.m. on November 18, 2025.

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