Gaoxin Retail (06808) received a full purchase offer from an interested offender and resumed trading on October 16

Zhitongcaijing · 10/15 13:09

Zhitong Finance App News, Gaoxin Retail (06808) announced that on September 27, 2024, the board of directors of the company received a letter of contact from an interested proponent. The interested offeror indicated that it intended to make a voluntary conditional offer with preconditions for all of the company's issued shares subject to various matters, and proposed to cancel all share purchase offers issued by the company that have not yet exercised share options. The company has applied to the Stock Exchange to resume trading of shares from 9:00 a.m. on October 16, 2024 after publication of this announcement.

On the date of this announcement, Alibaba Group Holdings Co., Ltd. indirectly held approximately 73.66% of the company's issued share capital through its wholly-owned subsidiaries Jixin Holdings Co., Ltd. and Taobao China Holdings Co., Ltd., while New Retail Strategic Opportunities Investments 1 Limited (an investment company wholly owned by an investment fund that Alibaba Group can exert significant influence on its investment decisions) held approximately 5.04% of the company's issued share capital. According to Alibaba Group, (i) discussions are ongoing between Jixin Holdings Co., Ltd., Taobao China Holdings Limited and New Retail Strategic Opportunities Investments 1 Limited and the intended offenders to make any irrevocable promises on the main terms of a possible offer; (ii) Alibaba Group is also in discussions with several other parties; and (iii) these discussions will not necessarily result in any agreement or transaction. As far as the Company knows, the intended offeror is not related to the company or any person associated with the company.