HK Stock Market Move | Riverine China (01417) jumped more than 40% after resuming trading, with Sun Taoyong, chairman of the board of directors of Weimob Inc (02013), making a cash offer for a discount.

After resuming trading, RIVERINE CHINA (01417) surged more than 40%, closing at a 39.04% increase at HKD 2.71, with a turnover of HKD 657.61 million. In terms of news, RIVERINE CHINA and the offeror Yomi.sun Holding Limited jointly announced that on June 15, 2026, the offeror entered into a purchase agreement with selling shareholders to acquire a total of 223 million shares at a total price of HKD 115.6 million, equivalent to approximately 55.03% of the total issued share capital of the company as of the date of the joint announcement; and Lucky Yang Limited entered into a purchase agreement with selling shareholders to acquire 77.28 million shares at a total price of HKD 40.0711 million, equivalent to approximately 19.08% of the total issued share capital of the company as of the date of the joint announcement. In accordance with Rule 26.1 of the Takeover Code, the offeror must make a mandatory unconditional cash offer for all shares in the company's issued share capital (excluding shares already owned and/or agreed to be acquired by the offeror and its concert parties). The offer price for each share is HKD 0.519 in cash, representing a discount of approximately 72.25% to the closing market price of HKD 1.87 per share on the Stock Exchange of Hong Kong on June 12, 2026. Mr. Sun Taoyong is the sole director of the offeror and the ultimate beneficial owner. Mr. Sun is also the founder of Weimob Inc., a limited company registered in the Cayman Islands and listed on the Hong Kong Stock Exchange (02013). Mr. Sun currently serves as the Chairman, Executive Director, and Chief Executive Officer of Weimob Inc.