SG Group Holdings Reports HK$1.29 Billion in Custody Value, Shareholder Deposits 23.15 Million Shares with Deacons Securities

Stock News06-10

Information from the Hong Kong Stock Exchange reveals that on June 9, SG GROUP HLDGS (01657) experienced a significant position change.

The total custody market value reached HK$1.292 billion, representing 72.34% of the relevant shares.

A shareholder of the company deposited 23.15 million shares with Deacons Securities Hong Kong, increasing their holding proportion by 72.34%.

On the evening of June 4, SG Group Holdings issued an announcement stating that on May 25, the offeror purchased 23.97 million shares from the seller, equivalent to approximately 74.91% of the total issued shares, for a total cash consideration of HK$198.5 million.

Following this completion, the offeror will hold the issued shares, with a cash offer price of HK$8.323 per share.

This price represents a discount of approximately 72.26% compared to the last traded closing price of HK$30 per share prior to the trading halt.

The offeror confirmed that the offer price is final and will not be increased.

The offeror is obligated to make an unconditional mandatory cash offer for all issued shares.

The seller is Cai Jingting.

The offeror is directly and wholly owned by Sifang Weiye.

The Sifang Group is a big data and artificial intelligence products and services provider headquartered in China, offering software solutions covering data collection, storage, analysis, and visualization to clients in sectors such as government, energy, transportation, finance, and manufacturing across China, including Hong Kong.

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