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Hong Kong Technology Exploration shares jumpplayingstrippokerwithfriends, or triggered by a repurchase plan. In market transactions, Hong Kong Technology Exploration (1137playingstrippokerwithfriends.HK)'s stock price reached HK$2.02 in the session, up as much as 13.48%, the highest point since March 5. The company launched a repurchase plan of HK$2.15 per share, involving up to 100 million shares, accounting for approximately 11.25% of the company's issued shares. Yesterday's closing price was HK$1.78. The repurchase premium was approximately 20.8%, involving funds of HK$215 million. The company plans to use internal resources to make payments.
Controlling shareholder TopGroup and its concerted action group may increase their shareholding to a maximum of approximately 51.55% after the repurchase plan is completed. This action may trigger obligations for a mandatory general offer, so TopGroup plans to apply for a cleansing exemption from relevant executives. The controller of TopGroup is Wang Weiki, chairman of Hong Kong Technology Exploration, group chief executive officer and executive director.