Market Insight | SunArt Retail surges over 5% again, receives third-party expression of interest for full acquisition, rumored to be most likely acquired by Hillhouse Capital
SUNART RETAIL rose by over 5%, reaching a 5.69% increase to HKD 2.23 at the time of publication, with a turnover of HKD 56.4117 million. On the news front, SUNART RETAIL announced that it has received a letter of intent from an independent third party expressing interest in making a conditional voluntary offer for all of the company's issued shares. Major shareholders Alibaba Group and New Retail Strategic Opportunities Investments 1 Limited are in discussions with the potential offeror regarding the key terms of the possible offer; Alibaba Group is also in discussions with several other parties. Market rumors suggest that Hillhouse Capital, Ruentex Group, and KKR Group may be interested in taking over, with Hillhouse Capital being the most likely candidate. Over the past two years, SUNART RETAIL has reduced costs and increased efficiency through measures such as closing stores and reducing expenses, resulting in a nearly 30% reduction in staff numbers, as well as decreases in sales and marketing expenses and administrative costs. Discussions with potential buyers are ongoing, with no consensus reached as of yet
According to the information from the Wise Finance APP, SUNART RETAIL (06808) has risen by over 5% again. As of the time of publication, it has increased by 5.69% to HKD 2.23, with a turnover of HKD 56.4117 million.
On the news front, SUNART RETAIL has announced that it has received a letter of intent from an independent third party expressing interest in making a voluntary conditional offer for all of the company's issued shares subject to certain preconditions. Discussions between major shareholders Alibaba Group and New Retail Strategic Opportunities Investments 1 Limited and the potential offeror regarding the key terms of the possible offer are ongoing, and Alibaba Group is also in discussions with several other parties.
It has been reported that there are market rumors suggesting that Hillhouse Capital, Ruentex Group, and KKR Group may be interested in taking over, with Hillhouse Capital being the most likely candidate. Over the past two years, SUNART RETAIL has reduced costs and improved efficiency through measures such as closing stores and reducing expenses, resulting in a nearly 30% reduction in the number of employees and decreases in sales and marketing expenses and administrative costs. Currently, discussions with potential buyers are still ongoing, with no consensus reached yet