Stock Movement | Yao Cai Securities Surges 60% - Ant Group's Takeover Expected to Complete by End of Month

SighingCashier · 2026-03-17T04:24:02+00:00

Convoy Financial (01428) will complete the Ant acquisition by the end of the month. The stock price rebounds with a high opening of 64.6%, reaching a maximum gain of 82.1%. As of 9:40 AM, the stock price reached 14.84 yuan, up 60.1%. Ant has completed the investment report procedure, with the transaction expected to be finalized on March 30. Last year, Convoy's founder planned to sell part of its shares to Ant for 2.8 billion yuan.

SighingCashier

2026-03-17 04:24:02

Abstract generation in progress

Yau Ma Tei Securities Finance (01428) announced that Ant Group’s acquisition of the company can be completed by the end of the month. The stock resumed trading with a significant rally, opening up 64.6%, temporarily rising as much as 82.1%, reaching a high of HKD 16.88.

As of 9:40 a.m., the stock was at HKD 14.84, up 60.1%, with a turnover of HKD 1.715 billion.

The company stated that on March 15, Ant Group had completed the reporting procedures to relevant Chinese authorities for the proposed transaction under the share purchase agreement, in accordance with the regulations on high-value non-sensitive investment projects under the “Regulations on the Administration of Overseas Investments by Enterprises.” Therefore, the conditions have been met, and the transaction is expected to be finalized by March 30.

In April last year, Yau Ma Tei Securities Finance announced that its founder and chairman, Ye Maolin, planned to sell his 50.55% stake for HKD 2.8 billion to Alibaba (09988) subsidiary Ant Group, triggering a full takeover offer at HKD 3.28 per share. Ant Group stated its intention to retain Yau Ma Tei Securities’ listing status. At that time, Ant Group announced that it would not increase the offer price.

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