Zhitong Finance App News, Xinyuan Enterprise Group (01748) issued an announcement. On August 19, 2026, the offeror Ocean Vivo Limited notified the company that it had a clear intention to make a voluntary conditional full cash offer in accordance with the terms and conditions through ICBC International Finance's representative provider to acquire all of the shares not yet owned by the offeror and those acting in concert with them. The offer price of HK$2.21 per share is approximately 25.57% premium over the closing price of HK$1.76 per share on February 20, 2025.
As of the date of this Joint Announcement, the Offeror does not intend to waive preconditions and/or conditions (ii). The offeror intends to maintain the listing status of the shares on the Stock Exchange after the end of the offer and will take appropriate steps as soon as practicable after the end of the offer to ensure that the shares maintain sufficient public shareholding. Steps that may be taken by the offeror include, but are not limited to, placing or selling a sufficient number of accepted shares acquired through the offer to selected independent third parties or on the market. As of the date of this joint announcement, no arrangements have been confirmed or implemented.
The offender is a limited company incorporated in the British Virgin Islands on June 13, 2016. The directors of the offender are Mr. Liu Jichun and Ms. Liu Xiaojun, the younger sister of Mr. Liu Jichun. The main business of the offeror is investment holding. The offender is wholly owned indirectly by Mr. Liu Jichun. Mr. Liu Jichun is a veteran entrepreneur in the chartering business.
The Group is mainly engaged in providing asphalt vessel chartering services in accordance with various chartering agreements, including term leasing, charter and charter contracts. Given that Mr. Liu Jichun, the ultimate beneficial owner of the offender, has extensive experience in the chartering business and his business is in the same industry as the Group, the offeror intends to explore the synergy between Mr. Liu Jichun's existing business enterprises and the Group, thereby enhancing the Group's competitive position and long-term value creation in the asphalt ship chartering business.
As of the date of this Joint Announcement, the Offeror has no intention of terminating the employment relationship of any employee of the Group, with the exception of employee transfers in the course of routine and general business. The Offeror will continue to consider how to develop the Group in a way that best enhances efficiency and shareholder value, and will consider reviewing and optimizing its asset structure in this regard. This will depend on a number of factors, including market conditions, legal and regulatory requirements, and its business requirements.