TechFlow, June 25 — According to Cailian Press, Meitu Company founder Michael Chai has acquired a 34.96% stake in China Financial Leasing through Longling Capital, the vehicle he beneficially owns, triggering a mandatory tender offer at HK$0.38 per share, representing a 13.43% premium over the pre-suspension price.
Chai stated his intention to transform China Financial Leasing into an asset management platform focused on investing in Hong Kong-based tech incubators, and to increase investments in artificial intelligence, Web3 industries, and financial products related to digital assets, aiming to develop the group into a world-class investment holding company.
Following the announcement, shares of China Financial Leasing surged, at one point rising nearly fourfold, and were up 311.98% at HK$1.38 as of press time.
