HK Stock Market Move | UNI PRINTSHOP (08448) surged more than 60% in midday trading, with the offeror proposing to buy out all shares at HK$0.35 per share.

UNI PRINTSHOP (08448) surged more than 60% during trading hours, as of the time of writing, it had risen by 46.94%, closing at 0.72 Hong Kong dollars, with a total turnover of 44.67 million Hong Kong dollars. On the news front, UNI PRINTSHOP announced that the offeror, Chen Minghui, will acquire a total of approximately 65.410466 million shares from the sellers, representing approximately 65.54% of the total issued share capital, for a total consideration of 2289.366 million Hong Kong dollars. Following the completion of the transaction, the offeror and its concerted parties will hold approximately 65.54% of the total issued share capital, triggering a mandatory unconditional cash offer at a price of 0.35 Hong Kong dollars per share, representing a discount of approximately 28.57% compared to the closing price of 0.49 Hong Kong dollars on February 9. Sellers include Chairman Lin Chengda, Executive Director Li Shuang, New Metro Inc., Xu Qingnai, and Zhou Wenqiang. The offeror intends to maintain the company's listing status on the Hong Kong Stock Exchange after the close of the offer.