STOCKS | Fullwealth Holdings to Change Hands After Offer at HK$0.6545 a Share

Slope engineering contractor Fullwealth Holdings (2295) said its controlling stake will change hands after Greensun Global Energy, led by Zhu Liming, agreed to buy 300 million shares, or 75%, from chairman Tse Shing Kei and CEO Ho Ka Kei at HK$0.6545 per share, according to Ming Pao. The total consideration is more than HK$196 million. The offer price represents a 65.6% discount to the closing price of HK$1.9 before trading was suspended on June 22. Zhu will then make a mandatory general offer to Fullwealth Holdings at HK$0.6546 per share. The company’s shares are set to resume trading tomorrow morning.