Shanghai Jahwa Alert:Share suspended after one-month tender offer application period
Shanghai Jahwa (SJ) announced suspension of trading for a day on 4 Dec afterits one-month tender offer subscription period (4 Nov 2015 - 3 Dec 2015). Torecap, Ping An offered to purchase 31% of Jahwa listco at RMB40/share fromall shareholders except Shanghai Jahwa Group (the parent of company of SJ)and Shanghai Huisheng Industrial Co, through its newly established company,Shanghai Tai Fu Xiang Er Equity Investment Fund Partners. Ping An targets toincrease its stake to 58.87% after this share purchase.
According to Shanghai Exchange, only 10.2m shares (1.5% of the total shares)were subscribed in the tender offer by 3 Dec, far below than the 208.9mshares (31% of the total shares) expected.
The company will disclose the results and resume trading on 7 Dec.