Hong Kong Stock Movement | SEM HLDGS (09929) Surges Over 37% Again, Cumulative Gain Exceeds 500% Since Resumption of Trading; Chairman of Shanghai Yaoji Technology Acquires Controlling Stake

Stock News12-09

SEM HLDGS (09929) surged over 37% again, marking a cumulative increase of more than 530% since its trading resumption on December 4. At the time of writing, the stock rose 35.42% to HKD 0.65, with a turnover of HKD 19.60 million.

The company announced that its original shareholder, SEM Enterprises, sold a 75% stake to independent third-party Yao Shuobin (the offeror) for HKD 165 million in cash, equivalent to HKD 0.11 per share—a 6.80% premium over the pre-suspension closing price of HKD 0.103. Following the transaction, the offeror is required to make a mandatory general offer as per regulations.

Yao Shuobin is the Chairman, CEO, and Executive Director of Shanghai Yaoji Technology Co., Ltd. (002605.SZ), an A-share listed company. Additionally, SEM HLDGS issued a two-year zero-coupon convertible bond worth HKD 44 million to the offeror, with a conversion price of HKD 0.11 per share. The bond can be converted into new shares, representing 16.67% of the enlarged share capital.

Proceeds from the bond issuance are intended for expanding electric vehicle charging solutions, repaying bank loans, securing performance bonds for potential electromechanical engineering projects, and supplementing general working capital.

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