Summary by Moomoo AI
China National Packaging Corporation (CNPC) announced on June 28, 2024 that the conditional voluntary full cash tender offer document submitted by its acquirer, Huarui Fengquan Development Co., Ltd. (Huarui), would be delayed. The tender offer is aimed at acquiring all the issued shares of CNPC, but excludes shares owned or agreed to be acquired by Huarui and its concerted parties. According to Rule 8.2 of the Takeover Code, the tender offer document was originally scheduled to be sent within 21 days after the announcement on March 5. However, as the prerequisite conditions of the tender offer have not been met, including approval from relevant laws and regulations in China, no further comments on the report of major asset restructuring from the Shenzhen Stock Exchange, approval from Huarui's parent company shareholders, and approval from the China Securities Regulatory Commission, Huarui has applied to extend the final deadline for sending the tender offer document to within 7 days after the prerequisite conditions are met or January 13, 2025. The implementers have indicated their intention to approve the extension request.