News summary

Hansi Energy plans to spend about 27freecasinoslotgamesHK$2.2 billion to acquire BTHL sharesfreecasinoslotgames, the shareholding ratio reaches 70%. The new share issue price is 99% higher than the market price and aims to expand the bus fleet and promote hydrogen buses. After the acquisition is completed, it will enhance its competitiveness in the public transportation sector in Hong Kong.

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Hansi Energy (00554.HK) announced the completion of a major acquisition and expanded its business footprint

Hong Kong-listed company Hansi Energy (00554.HK) recently announced that Glorify, its wholly-owned subsidiary, has signed acquisition agreements with TWBHoldings and ABL. Under the agreement, Glorify will conditionally acquire 54.44% of the shares of BTHL held by TWBHoldings and ABL, with a transaction value of up to HK$2.722 billion. Upon completion of the acquisition, Glorify and TWB Holdings will hold 70% and 30% of BTHL, respectively.

To pay this price, Hansi Energy plans to issue approximately 279 million new shares to TWB Holdings at a price of HK$0.7961 per share. This price is approximately 99.03% premium to the closing price of the previous trading day. Assuming the issuance is successful, the new shares will represent approximately 7.05% of the company's issued share capital. If this equity change is approved by regulators, it will further strengthen Hansi Energy's control over BTHL.

BTHL, a company registered in the British Virgin Islands, is the holding company of Huida Transportation Group. BTHL's main business is to provide public bus and tourism services through its wholly-owned subsidiary Citybus, covering multiple regions in Hong Kong. Citybus is an important contributor to Hong Kong's public bus services, accounting for one-third of the market share in 2022. The company also launched Hong Kong's first hydrogen fuel cell double-decker bus in July 2022 and plans to build the first hydrogen refueling station in West Kowloon to support the operation of hydrogen buses.

In addition, Huida Media, as a wholly-owned subsidiary of BTHL, focuses on advertising and has obtained exclusive agency rights for bus body advertising for ten years through public bidding until 2033. Recently, Huida Media also won a contract as an advertising sales agent for a railway operator in Hong Kong, further broadening its scope of services.