HK-listed Eternity Technology nearly quintuples on new controlling shareholder

Harris Technology

22/04/2021 04:35

** Shares of printed circuit board and electronic products
maker Eternity Technology Holdings Ltd  1725.HK  soar as much as
373% to an all-time high of HK$17.50 in resumed trade, on course
for their best session since listing in August 2018
    ** Stock, which halted trade on April 12 pending a
statement, last up 275.7%; the biggest percentage gainer on the
Hong Kong bourse 
    ** Guangdong-based firm says Hong Kong Aerospace Technology
Group Ltd has completed purchase of a 63.75% stake and has
become its new controlling shareholder. It will make a mandatory
cash offer for all outstanding shares it does not already owned
in the company at HK$2 each (https://bit.ly/3vaXaLz)
    ** Says the new controlling shareholder will maintain the
listing of the company shares on the Hong Kong bourse while it
intends to expand its business coverage to include Hong Kong
Aerospace's business in satellite precision manufacturing,
satellite launch and aerospace data services
    ** Says Hong Kong Aerospace has yet to commence satellites
manufacturing 
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
rises 1%
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.4%, and the benchmark index  .HSI  gains 0.5%
    ** As of the previous close, the stock had jumped 184.6% so
far this year

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