Tourover-W (09690) plans to acquire Australian car service chain Mycar, and the stock price rose 11.31% at the close

The Zhitong Finance App learned that Tourover-W (09690) announced on September 24, 2026 that its indirect wholly-owned subsidiary TUHU Car (Hong Kong) Limited has signed a share purchase agreement with Continental Global Holding Netherlands B.V., a wholly-owned subsidiary of Continental AG, to conditionally acquire all of the target company Conti Trade Australia Pty Ltd Issued share capital.

The target company owns and operates the tire, car service and maintenance chain network “mycar Tyre & Auto”. It has 279 stores in Australia and is one of the largest tire and car service and maintenance chains in Australia.

The price of the acquisition is based on the target group's agreed enterprise value of 403 million Australian dollars, or about 2.25 billion Hong Kong dollars. After the amount adjustment, the settlement payment is estimated to be 278 million Australian dollars, or about 1.55 billion Hong Kong dollars.

Buoyed by news of the acquisition, Tourover Auto Maintenance's stock price rose all the way up yesterday, with a full-day trading volume of 4.7598 million shares. The closing stock price was HK$11.42, an increase of 11.31%.