Jin An Industrial (02292.HK) to privatize with a premium of about 30% by its controlling shareholder, trading will resume on May 12th.

Intelligence Finance News app reported that Jinan Industry (02292.HK) and the offeror Jinan Group Limited jointly announced on May 9, 2025, that the offeror requested the board of directors to submit the proposal to the proposed shareholders to privatize the company in accordance with Article 86 of the Companies Act through a scheme arrangement, which includes (i) cancelling and removing the scheme shares, and paying cash and/or shares to the scheme shareholders for each cancelled and removed scheme share as consideration; (ii) issuing new shares equal to the number of scheme shares (already cancelled and removed) to the parent company, restoring the company's issued share capital to the amount immediately before the cancellation and removal of the scheme shares, and these new shares will be credited to the account as payment from the funds generated from the reduction in the issued share capital mentioned in (i) above; and (iii) withdrawing the listing status of the shares on the Stock Exchange. The company has applied to the Stock Exchange for the resumption of trading of the shares on the Stock Exchange starting from 9:00 am on May 12, 2025.