Changes in Hong Kong stocks | Dazhong Financial Holdings (00626) resumed trading and surged by more than 40% and received a premium of about 61.29% from the majority shareholder, Public Bank of China and privatized by about 61.29%

The Zhitong Finance App learned that the resumption of trading of Dazhong Financial Holdings (00626) soared by more than 40%. As of press release, it had risen 42.58% to HK$2.21, with a turnover of HK$22.128,400.

According to the news, on the evening of September 8, Dazhong Financial Holdings issued an announcement stating that the offender, Dazhong Bank, offered a privatization of HK$735 million, at HK$2.5 per share, involving a total issued share capital of about 1,098 million shares and 294 million planned shares issued, accounting for about 26.77% of the company's issued share capital on the announcement date, with a total cash cost of about HK$735 million. The price per share premium of HK$1.55 before the suspension of trading was approximately 61.29%.

The offeror believes that the resulting simplified equity structure will further coordinate the interests of the company and the rest of the offender group's companies and provide a more direct framework for the company's operations as part of the offeror group. Privatization will eliminate the costs and administrative burdens associated with maintaining a company's public listing status, and allow resources to be concentrated more directly on its banking operations.