Hunlicar Group shareholders offered partial cash exit

Hunlicar Group Limited (HKEX:3638) is the subject of a conditional voluntary cash partial offer by Zheshang International Financial Holdings, acting on behalf of Talent Virtue International Limited. The offer aims to acquire a maximum of 19,439,034 shares, representing approximately 25.11% of the company’s issued share capital, from qualifying shareholders. The offer price is HK$4.50 per share. The deal is conditional upon receiving valid acceptances for at least 15,567,034 shares and approval by shareholders holding over 50% of the shares not already held by the Offeror and its concert parties. Mr. Cheung Lit Wan Kenneth, the sole shareholder of Talent Virtue and chairman of Hunlicar, intends to increase his investment in the company through this offer. The board considers the partial offer fair and reasonable and are recommending its approval. The offer provides an opportunity for qualifying shareholders to realize part of their investment at a premium while retaining their remaining equity stake. Zheshang International expects to maintain the listing status of the company’s shares and continue Hunlicar’s existing business operations. The first closing date for acceptances is April 2, 2025.