HK Stock Market Move | MAN SHUN GP (01746) resumed trading and its stock price surged by over 70% at one point. There is a possibility that 75% controlling stake may change hands.

MAN SHUN GP (01746) resumed trading this morning and rose more than 70% at one point, but the gains have since narrowed. As of the time of writing, it is up 35.71% at HK$0.38, with a trading volume of HK$3.0945 million. On the news front, MAN SHUN GP announced that its chairman and executive director Zhang Yuantong, and executive director Zhang Yuanqiu, who hold Prime Pinnacle Limited as the controlling shareholder and selling party, may sell their 75% stake to Winsun Special Assets International Co., Ltd., an independent third party potential buyer. They have signed a memorandum of understanding, with the offer period starting yesterday. The group mentioned that the potential buyer will conduct due diligence and pay a HK$20 million deposit to the selling party within one month. The potential buyer is held by He Mingyi, Liu Ting, and Huang Yanjiu.