EVERG SERVICES Shares Surge Over 9% in Afternoon Trading as Market Anticipates Potential New Owner by May

Deep News05-04

EVERG SERVICES (06666) saw its share price rise by 9.21% in afternoon trading, currently standing at HK$1.66, with a turnover of HK$68.515 million.

On the evening of April 14, EVERG SERVICES announced that EVERGRANDE (03333) and CEG Holdings had entered into an exclusivity agreement with a potential buyer. The parties will engage in a 30-working-day exclusive negotiation regarding the 51.016% stake in EVERG SERVICES. This indicates that, if negotiations proceed smoothly, EVERG SERVICES could welcome a new owner as early as May.

It is noteworthy that market speculation about the identity of the interested buyer has been ongoing. Names such as China Overseas Land & Investment and China Resources Land have previously been mentioned in rumors, though both parties subsequently issued clarifications. In February of this year, further market reports suggested that PAG or Guangdong Tourism Group were in discussions to acquire EVERG SERVICES. According to the latest information from industry insiders, EVERG SERVICES has now selected Guangdong Tourism Group for exclusive negotiations, with Guangdong Tourism Group having outbid other contenders, including PAG.

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