Superland (368 HK) Suspended: MBO (Takeunder) Expected
Superland Group (368 HK) is suspended pursuant to Hong Kong Code on Takeovers and Mergers. I expect a Scheme Offer from founder/chairman/CEO Ng Chi Chiu, who currently holds 75%.
Superland, a high-end indoor home and commercial decorator/renovator, was listed in July 2020 at HK$0.63/share.
The stock is up >600% in the past year. Yet remarkably, is 50% adrift off its all-time high last month. Expect a takeunder. Currently trading with total disregard to fundamentals.
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