Understanding the Market | LIFESTYLE CHI rises over 6% again, closing up 28% after resuming trading yesterday, with Chairman Liu Luanhong offering a premium of about 21.7% for privatization
LIFESTYLE CHI rose over 6% again, with the stock closing up 28% after resuming trading yesterday. As of the time of writing, it has increased by 6.25%, priced at HKD 1.02, with a trading volume of HKD 5.8307 million. In terms of news, LIFESTYLE CHI announced that Chairman Liu Luanhong (the offeror) proposed to privatize the company through a scheme arrangement, with a price of HKD 0.913 per share, representing a premium of 21.73% compared to the last closing price before suspension, involving approximately HKD 335 million. Upon effectiveness, the company will apply for the withdrawal of its shares from listing on the Stock Exchange. Currently, the non-scheduled offeror acting in concert holds a total of 74.91% of the company's equity. It is reported that LIFESTYLE CHI operates department store retail businesses in mainland China and was spun off from LIFESTYLE INTERNATIONAL to be listed separately in 2016. It operates Shanghai Jiuguang Department Store, Suzhou Jiuguang Department Store, and Dalian Jiuguang Department Store in mainland China. Among them, the Shanghai Jiuguang Center, positioned as a leisure experience and lifestyle fashion hub, is LIFESTYLE CHI's first flagship complex integrating shopping, leisure, entertainment, and business
According to Zhitong Finance APP, LIFESTYLE CHI (02136) has risen over 6% again, with the stock closing up 28% after resuming trading yesterday. As of the time of writing, it has increased by 6.25%, priced at HKD 1.02, with a trading volume of HKD 5.8307 million.
In terms of news, LIFESTYLE CHI announced that Chairman Liu Luanhong (the offeror) has proposed to privatize the company through a scheme arrangement, with an offer price of HKD 0.913 per share, representing a premium of 21.73% compared to the last closing price before suspension, involving approximately HKD 335 million. Upon effectiveness, the company will apply for the withdrawal of its shares from listing on the Stock Exchange. Currently, the offeror and its concert parties hold a total of 74.91% of the company's equity.
It is reported that LIFESTYLE CHI operates department store retail businesses in mainland China and was spun off from LIFESTYLE International to be listed separately in 2016. It operates Shanghai Jiuguang Department Store, Suzhou Jiuguang Department Store, and Dalian Jiuguang Department Store in mainland China. Among them, the Shanghai Jiuguang Center, positioned as a leisure experience and lifestyle fashion center, is LIFESTYLE CHI's first flagship complex that integrates shopping, leisure, entertainment, and business
