CNBM (03323) announced that Morgan Stanley will act on behalf of the company to propose a conditional cash offer at a per share...
According to the information from Zhichun Finance APP, CNBM (03323) announced that Morgan Stanley will act on behalf of the company to propose a conditional cash offer to repurchase and cancel a maximum number of shares at an offer price of HKD 4.03 per H share, amounting to a total of 841,749,304 H shares, accounting for about 9.98% of the shares issued as of the date of this announcement and about 18.47% of the issued H shares. The number of H shares to be repurchased by the company will not exceed the maximum number. The offer price represents a premium of approximately 15.1% over the closing price of HKD 3.50 for H shares reported on the last trading day on the Stock Exchange.
The offer will be made in accordance with the Code. The cost of the offer (if fully accepted, will amount to approximately HKD 3.392 billion) will be paid in cash to shareholders who accept it, and will be funded by external loans and/or internal resources.
