Geely Group Limited made a unconditional mandatory offer to acquire a 31.14% stake in Honbridge Holdings Limited (SEHK : 8137) for approximately HKD 300 million

Geely Group Limited made a unconditional mandatory offer to acquire a 31.14% stake in Honbridge Holdings Limited (SEHK : 8137) for approximately HKD 300 million on February 23, 2023. under the terms, Geely Group will acquire 3,705 million shares at a price of HKD 0.08 per share in cash. Offeror does not intend to privatise the Honbridge Holdings by availing itself of any powers of compulsory acquisition of the remaining Shares not acquired under the Offer after the close of the Offer.

Offer is expected to close on March 16, 2023. Guotai Junan Securities (Hong Kong) Limited and Guotai Junan Capital Limited acted as financial advisor to Geely Group and Ballas Capital Limited acted as Independent Financial Adviser to the Independent Board Committee of Honbridge Holdings Limited. Sidley Austin LLP acted as legal advisor to Honbridge Holdings Limited.