Stock Movement | Mao's Kwai Chung Surges 25% as Control Changes Hands

SighingCashier · 2026-03-13T01:50:55+00:00

Maoji Cuiyong Holdings changes hands; stock resumes trading this morning and surges 31% to HK$1.59, currently trading at HK$1.52, up 25.6%. Xiaoojun Legend acquires 65% stake in Blackpaper for HK$122.2 million and is required to make a mandatory cash offer of HK$0.6963 per share, representing a 42.45% discount. The company will maintain its listed status.

SighingCashier

2026-03-13 01:50:55

Abstract generation in progress

Kwai Chung (01716) Holdings Change Hands, Resumes Trading This Morning with a Strong Rally, Up to 31% at 1.59 Yuan.

As of 9:40 a.m., trading at 1.52 Yuan, up 25.6%, with a turnover of 21.5 million Yuan.

Kwai Chung announced that the offeror, Jiu Jun Legend, will acquire 175.5 million shares of Blackpaper Limited (Blackpaper) at a total cash consideration of 122.2 million Yuan, representing 65% of the company’s issued share capital, at approximately 0.6963 Yuan per share.

According to Rule 26.1 of the Takeovers Code, the offeror is required to make a mandatory unconditional cash offer, with a per-share cash offer price of 0.6963 Yuan, representing a discount of about 42.45% to the pre-suspension closing price of 1.21 Yuan. If the offer is fully accepted, the total consideration will be 65.5804 million Yuan. The offeror intends to maintain the company’s listing on the Stock Exchange after the offer concludes.

Blackpaper is 50% owned by the company’s chairman, Yao Jiahao (Ah Bu), and executive director, Lu Jiajun (Chen Qiang). Jiu Jun Legend is held by Ma Liyang, who has 14 years of experience in investing and operating high-tech environmental protection enterprises in China that focus on the cleaning, utilization, and harmless disposal of hazardous solid waste containing heavy metals.

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