Lvji Technology: Controlling Shareholder Lifts Stake to 35.08% with HK$2.93 Million OTC Purchase

Bulletin Express09-29

Lvji Technology Holdings Inc. (LVJI TECH) reported that controlling shareholder Lu Jia Technology Holdings Limited—wholly owned by Chairman and Executive Director Mr. Zang Weizhong—has acquired 1.00 million shares through over-the-counter transactions for a total consideration of HK$2.93 million, or HK$2.93 per share.

Following the purchase, Lu Jia Technology’s direct ownership rose from 13.08 million shares (25.84%) to 14.08 million shares (27.82%). Consequently, the combined holdings of Mr. Zang and his concert parties increased from 16.76 million shares (33.11%) to 17.76 million shares (35.08%). The total issued share capital of Lvji Technology remains unchanged at 50.62 million shares.

The 1.97-percentage-point increase keeps the concert-party stake below the 2% threshold that would otherwise trigger a mandatory offer under Hong Kong’s Takeovers Code, ensuring full regulatory compliance. Management highlighted the additional investment as evidence of confidence in the company’s growth prospects. The board also confirmed that Lvji Technology continues to meet the public-float requirement following the transaction.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment