HK's electronic accessories supplier TOMO hits record high on change of control

Carmen Century Investment

09/06/2021 04:15

** Shares of vehicles leather upholstery and electronic
accessories supplier  6928.HK  soar 87.7% to record high of
HK$5.35
    ** Stock on course for best day since listing in July 2017;
biggest pct gainer on the Hong Kong bourse
    ** Co says controlling shareholder Tomo Ventures has agreed
to sell all its 230 mln shares, or 51.11% of firm, to Billion
Legend Co for HK$130.33 mln ($16.8 mln)  urn:newsml:reuters.com:*:nFWN2NQ13O
    ** Billion Legend will make a mandatory unconditional cash
offer for all outstanding shares at HK$0.5667 apiece
    ** Offer represents 80.12% discount to stock's last closing
price of HK$2.85 each on June 2 before trading halt
    ** Billion Legend aims to expand geographical coverage of
firm's business and will maintain listing of shares on HK bourse
after deal
    ** Billion Legend is owned by Ma Xiaoqiu, a non-executive
chairman of China Ding Yi Feng Co Ltd  0612.HK  
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
slips 0.1%, and the benchmark index  .HSI  edges down 0.01%
    ** As of last close, TOMO stock soared 231.4% this year 

($1 = 7.7589 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)