Changes in Hong Kong stocks | Walnut Capital (00905) is now down more than 3%, and the controlling shareholder plans to sell 55.64% of the shares in a bulk transaction

The Zhitong Finance App learned that Hutao Capital (00905) resumed trading today. After opening 16% higher in early trading, it fell by more than 8% in the afternoon. As of press release, it decreased by 3.33% to HK$0.29, with a turnover of HK$4,528,700.

According to the news, Walnut Capital announced that Linhua, which is wholly owned by the controlling shareholder and executive director Meng Pinwen, has entered into a major transaction agreement with the manager. The manager will induce the independent undertaker to purchase all of Meng Pinwen's shares of approximately 584 million shares, or about 55.64% of Meng Pinwen's shares, at a price of not less than HK$0.242 per share. If an agreement on the sale of shares is not signed before November 30, the bulk transaction agreement will automatically be terminated. If implemented, Linghua will no longer hold any shares and will therefore no longer be the group's controlling shareholder.