STOCKS | Z FIN Jumps After Buyout Offer At HK$6.60 A Share

Z FIN (1168) rose 30.07% to HK$5.32 after a buyout offer at HK$6.60 a share, according to Ming Pao. The offer price was a 61.37% premium to the previous close. The company, formerly known as PacRay, said last night that a wholly owned vehicle controlled by major shareholder Au-Asia Ping had proposed to take it private. Z FIN resumed trading today and opened 48.9% higher at HK$6.09 before easing from an intraday high, but it still closed below the offer price. Z FIN holds a 43.5% stake in ZA Bank.