Innovax to divest lending and investment units to controlling shareholder

Innovax Holdings Limited is proceeding with the disposal of its wholly-owned subsidiaries, Innovax Credit Limited and Innovax Management Limited. The conditional agreement, dated September 25, 2025, involves Crystal Prospect Limited (a wholly-owned subsidiary of Innovax Holdings) selling the entities to Maine Sky Limited, which is wholly-owned by Mr. Chung Chi Man, the controlling shareholder and chairman of Innovax Holdings. The disposal consideration is HK$58.2 million, subject to adjustment based on fair value at completion.

The disposal, a connected and discloseable transaction under Listing Rules and a special deal under the Takeovers Code, will be put to Independent Shareholders for approval at an Extraordinary General Meeting (EGM) on Friday, December 5, 2025. The board and the independent board committee recommend shareholders vote in favor, citing a strategic focus on core financial and securities services and an estimated gain of approximately HK$3.8 million.

The company’s share registrar will close its register of members from December 2 to December 5, 2025, to determine EGM entitlements. Shareholders must lodge transfer documents by 4:00 p.m. on December 1, 2025. The circular detailing these transactions was despatched on November 17, 2025.