CON AERO TECH (00232.HK) surged 80.69% to HKD0.365 after proposing to dispose of all its businesses and properties, declare a special dividend of up to HKD0.4433 per share, and subsequently delist. The proposal with MOBILE ACQUISITIONCO, LLC offers a premium of about 1 to 1.1 times over the stock's closing price of HKD0.207 on June 5.
CON AERO TECH (00232.HK) surged 80.69% to HKD0.365 after proposing to dispose of all its businesses and properties, declare a special dividend of up to HKD0.4433 per share, and subsequently withdraw its listing. Turnover reached approximately HKD133 million on the announcement.
The proposal delivers a premium of about 1 to 1.1 times over last Friday's closing price of HKD0.207, the company and MOBILE ACQUISITIONCO, LLC said in a joint announcement. Shareholders would receive a special dividend of between HKD0.4263 and HKD0.4433 per share from the disposal proceeds.
Upon completion of the transaction, the group will no longer hold any operating business, prompting the company to propose withdrawing its listing status. The special dividend represents a significant return of capital to shareholders relative to the pre-announcement trading price.
For shareholders who tender their shares, the special dividend locks in a substantial premium above the stock's recent trading levels. The stock is expected to trade near the special dividend range until the delisting process is finalized. Investors will watch for shareholder vote dates and regulatory approvals that will determine the transaction timeline.
This article is for informational purposes only and does not constitute investment advice.
