FilingReader Intelligence

Wah Cheong launches cash offer for Dragon Mining; APAC deal scrapped

June 2, 2025 at 05:04 PM UTCBy FilingReader AI

Wah Cheong Development (B.V.I.) Limited, an indirect wholly-owned subsidiary of Allied Group Limited (HKEX:373), has announced the dispatch of its offer document relating to a conditional voluntary cash offer to acquire all issued shares of Dragon Mining Limited (DML). The offer, facilitated by Morton Securities Limited, opens on 2 June 2025 and will remain open until 4:00 p.m. on 1 August 2025, unless revised or extended. The offer price is HKD2.60 per share, higher than the previously proposed offer by Allied Properties Resources Limited (APRL). Concurrently, APRL has withdrawn its offer for APAC Resources Limited due to the superiority of Wah Cheong's Dragon Mining offer and APRL's lack of financial resources to compete. The DML board is expected to post its response document by 16 June 2025. The board of APAC considers the withdrawal of the Allied Properties Offer is fair and reasonable and in the interest of APAC and its shareholders.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

HKEX:1104Hong Kong Exchange

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