Major Holdings Says Silver Tycoon Disposes Of 54% Interest; Triggers Cash Offer
MT Newswires Live
Yesterday
Major Holdings (HKG:1389) said Silver Tycoon completed the sale of about 298.1 million shares, representing 53.77% of the company's issued share capital, to Max Premier on Oct. 5 for HK$102.3 million, according to a Monday filing to the Hong Kong Stock Exchange.
Shares of the company were up 38% in Tuesday afternoon trading.
Max Premier will make a mandatory unconditional cash offer through Kingston Securities for the remaining shares at HK$0.3428 apiece, valuing the offer at about HK$87.8 million, the filing said.
Trading in the company's shares resumed Tuesday after being suspended on Oct. 2.
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