Shareholders of Youku Holdings (01948) deposited their shares in SPDB International Securities with a market value of HK$858 million

The Zhitong Finance App learned that the latest data from the Hong Kong Stock Exchange shows that on June 2, shareholders of Youju Holdings (01948) deposited shares into SPDB International Securities with a market value of HK$858 million, accounting for 46.91%.

On May 13, Youke Holdings stated that Boss Finance Limited (a licensed corporation capable of engaging in activities subject to Type 1 (securities trading) and Class 6 (advising on institutional financing) under the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong) has been appointed as an independent financial advisor to advise the Independent Board Committee on the offer. The appointment of Boss Finance Limited as an independent financial advisor has been approved by the Independent Board Committee in accordance with section 2.1 of the Takeovers Code.

On May 7, Youku Holdings announced that Supreme Development, the original major shareholder, completed the sale of 50.62% of its shares to an independent third party Autumn Harvest Ltd (offender), involving approximately 304 million shares, at a total cost of HK$213 million, equivalent to HK$0.7 per share. After completion, the offender and its actors held a total of 72.71% of the company's share capital and were required to make a mandatory comprehensive offer, with a cash price of HK$0.7 per share, a discount of 41.67% over the closing price before the suspension of trading. The offeror intends to maintain the listed position of the company and plans to continue operating the existing business.

According to reports, the offender is an investment holding company whose issued share capital is directly owned by Mr. Cheng and 40% directly beneficial owned by Ms. Ma. The sole director of the offeror is Ms. Ma, the spouse of Mr. Cheng. Mr. Cheng has over 20 years of work and management experience in the Internet industry. She is the founder and general manager of Shanghai Zhishu Qifei Software Technology Co., Ltd.; Ms. Ma has worked for Baidu and Cheetah Mobile. He joined Youju Holdings in 2023 as Vice President of Marketing.