The Zhitong Finance App learned that Guichuang Tongqiao (02190) rose more than 7%. As of press release, it had risen 6.45% to HK$20.64, with a turnover of HK$1,428,500.
According to the news, on November 6, Guichuang Tongqiao issued an announcement to jointly strategically invest in Xianjian Technology with GL Capital (GL Capital). According to the relevant agreement, Guichuang Tongqiao and Telford Capital will jointly fund the establishment of GL Lighthouse Two Investment Limited (“Lighthouse Two”) to subscribe for newly issued shares of Xianjian Technology for a total of about HK$1,482 billion. After the transaction is completed, Lighthouse Two will hold about 16.7% of the total shares issued by Xianjian Technology after the additional issuance, making it the single largest shareholder of Xianjian Technology.
Guichuang Tongqiao plans to invest approximately HK$889 million to hold 60% of Lighthouse Two's shares. In addition, Telford Capital plans to subscribe for 39.8 million shares newly issued by ChuangTongqiao at HK$22 per share, accounting for 10.8% of the company's total shares (excluding treasury shares) after the current issuance, providing financial support for the company to further increase its holdings in Xianjian Technology and overseas business development in the future. The subscription price was a 13.5% premium over the closing price on the day of the transaction announcement, and a 15.4% premium over the average closing price on the first five trading days of the announcement, fully demonstrating Telford Capital's recognition of the long-term development of Guichuang Tongqiao.