HK Stock Market Move | SINOFORTUNE FIN (08123) resumed trading and surged by 173%. The major shareholder increased their holdings through debt-to-equity conversion to 73.51%.

SINOFORTUNE FIN (08123) resumed trading this morning, soaring 173% at one point. As of press time, it has risen 105.67%, trading at 0.29 Hong Kong dollars with a turnover of 2.7206 million Hong Kong dollars. On the news front, SINOFORTUNE FIN announced that its executive director and major shareholder, Wang Jiawei, subscribed for approximately 215 million capitalization shares at a price of 0.1 Hong Kong dollars per share. Wang Jiawei is required to pay the subscription amount of 21.5499 million Hong Kong dollars by offsetting the company's debt to him. After the subscription is completed, Wang Jiawei and its concerted action persons will hold approximately 73.51% of the enlarged share capital. Wang Jiawei is required to make a mandatory unconditional cash offer for all issued shares. The offer price is 0.1 Hong Kong dollars per share, representing a discount of approximately 29.1% compared to the pre-suspension closing price of 0.141 Hong Kong dollars.