Fengcheng Holdings Stock Soars 136% on Trading Resumption After Ownership Change

Fengcheng Holdings (stock code 02295) resumed trading today, with shares surging to HK$4.49, up 136% from the suspension price. The company announced that Lüsheng Global Energy completed the acquisition of 300 million shares (75% ownership) from Junfeng Investment on June 22. In accordance with regulations, the acquirer has launched a mandatory cash offer at HK$0.6545 per share, representing a 65.6% discount to the pre-suspension closing price. The acquirer and its concerted parties plan to maintain the company's listing on the Hong Kong Exchange.
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