Ye Huacong made an offer to acquire remaining 26.18% stake in Hephaestus Holdings Limited (SEHK:8173) for HKD 26.19 million on November 26, 2021. Under the terms, consideration is set as HKD 0.4644 per share. In a related transaction Ye Huacong acquired 73.81% stake in Hephaestus Holdings Limited (SEHK:8173) from Whistle Up Limited for HKD 73.8 million on November 26, 2021. The Offeror intends to finance the entire consideration payable under the Offer by the Loan Facility granted to it by Kingston Securities.
Offer is unconditional in all aspects when it is made and is not conditional upon acceptances being received in respect of a minimum number of Shares. Transaction is expected to close on January 18, 2022. Kingston Corporate Finance acted as the financial advisor to Ye. Trinity Corporate Finance Limited acted as financial advisor to directors of Hephaestus Holdings Limited. Merdeka Corporate Finance Limited acted as financial advisor to Hephaestus Holdings Limited. Union Registrars Limited acted as registrar in the transaction.

Ye Huacong completed the acquisition of 1.91% stake in Hephaestus Holdings Limited (SEHK:8173) for HKD 1.9 million on January 18, 2022. Valid acceptances had been received in respect of a total of 4,121,271 Offer Shares. Upon Completion and immediately prior to commencement of the Offer Period, the Offeror and parties acting in concert with it were interested in a total of 158,947,368 Shares, representing approximately 73.81% and immediately after the close of the Offer, the Offeror and parties acting in concert with it were interested in a total of 163,068,639 Shares, representing approximately 75.72% of Hephaestus Holdings Limited.