Hong Kong Johnson Holdings Co., Ltd. (HK:1955) has released an update.
Hong Kong Johnson Holdings Co., Ltd. has announced that following the privatisation of Canvest, which holds a significant stake in the company, the proposed acquisition may not lead to a mandatory offer for the company’s shares. This comes after the Securities and Futures Commission confirmed that the Offeror’s acquisition of Canvest’s voting rights does not trigger a mandatory general offer under the Takeovers Code. The move is part of a reorganization that will see Canvest’s listing withdrawn from The Stock Exchange of Hong Kong Limited.
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