Fu Shou Yuan International Group Ltd has received an unconditional voluntary partial cash offer from individual investor Ms Gong Hailin, who is acting through AFG Securities.
Key terms • Size and price: Up to 115.00 million shares, representing about 4.96 % of Fu Shou Yuan’s issued capital, at HK$0.10 per share. • Total consideration: Approximately HK$11.50 million, to be funded entirely from the offeror’s personal resources. • Offer period: Opens 18 September 2026 and closes 4:00 p.m. on 16 October 2026, unless extended with Securities and Futures Commission (SFC) consent. • Unconditional offer: No minimum acceptance level is required; the offer is not linked to any regulatory or financing conditions. • Acceptance mechanics: If acceptances exceed 115.00 million shares, scaling will apply on a pro-rata basis. Settlement will occur within seven business days after the closing date.
Pricing context The HK$0.10 offer price represents steep discounts to pre-suspension market levels: • 96.21 % below the last traded price of HK$2.64 on 19 March 2026. • 96.38 % below the 10-day average closing price of HK$2.76. • 96.47 % below the audited 31 December 2024 net asset value of HK$2.83 per share.
Background and rationale Fu Shou Yuan shares have been suspended since 20 March 2026 following the discovery of approximately RMB3 million in questionable payment arrangements and an ongoing forensic investigation into related-party procurement transactions totalling about RMB19.70 million. The company also faces an 18-month delisting clock under HKEX rules if trading does not resume by 19 September 2027. Gong Hailin, a Hong Kong–based professional investor with more than ten years in financial markets, states the bid aims to establish a passive equity position and does not seek control or board influence.
Shareholder impact Assuming full take-up, Gong would hold 4.96 % of Fu Shou Yuan, and public float would remain above the 25 % regulatory minimum. Qualifying shareholders accepting the offer will bear seller’s stamp duty of 0.1 % on the greater of market value or consideration. An odd-lot matching service will operate from 20 October to 1 December 2026 to facilitate trades in board-lot sizes.
Advisers AFG Securities is the offer agent, and Alpha Financial Group is financial adviser to the offeror. The company will issue a response circular, including an independent board committee view and independent financial adviser’s opinion, within 14 days of the offer document.
Shareholders are advised to review both the offer and response documents and to consult professional advisers regarding acceptance procedures and implications.
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