Giordano (0709) was fully purchased by the major shareholder Zheng Jiachun's family at a premium. The stock price opened 20.1% higher this morning, at 1.91 yuan, higher than the offer price of 1.88 yuan, with a turnover of 4.57 million yuan.
Giordano announced last night that the Zheng family made an offer through its private company Chow Tai Fook Holdings (hereinafter referred to as Chow Tai Fook) at a price of 1.88 yuan per share, together with the acquisition of outstanding share options, the total consideration is up to 2.556 billion yuan.
Chow Tai Fook Holdings intends to maintain Giordano's listing status and maintain a public float of at least 25%.
