Property developer Guangdong - Hong Kong Greater Bay Area Holdings (1396 HK) (GHKGBA) is currently suspended pursuant to the Takeovers Code.
GHKGBA, previously known as Hydoo, was subject to an unconditional MGO in 2019 after China Guangdong-Hong Kong Greater Bay Area (CGHKGBA) acquired a 51.56%. CGHKGBA currently holds a 50.94% stake
At a guess, CGHKGBA will seek to take GHKGBA private by way of a Scheme. The rub/pushback? GHKGBA's share price is up 2,383% YTD. And trailing P/B is ~7x.
GHKGBA is suspended so there is nothing to be done.
The insight is labelled bearish as GHKGBA doesn't pass the sniff test.