Canvest Env (01381) opened at nearly 6% higher and as of the time of publication, rose by 5.91%, trading at HKD 4.3, with a turnover of HKD 6.2522 million.
According to the Wisdom Financial News App, Canvest Env (01381) opened at nearly 6% higher and as of the time of publication, rose by 5.91%, trading at HKD 4.3, with a turnover of HKD 6.2522 million.
On the news front, Grandblue Environment (600323.SH) announced that it plans to acquire Canvest Env shares through its wholly-owned subsidiary, Hanlan. Grandblue is currently exploring a proposal, which may include privatizing Canvest Env with pre-conditions, and making a cash offer.
The indicative cancellation price for this transaction is tentatively set at HKD 4.90 per share, a premium of 20.69% over Canvest Env's closing price on the previous trading day (5th). Based on the total issued capital of the target company currently disclosed publicly, which is 2.44 billion shares, the overall amount corresponding to 100% equity is HKD 11.954 billion. According to preliminary estimates, this transaction is expected to constitute a major asset restructuring.