China National Packaging Holdings Limited (CNPG Packaging) announced on June 28, 2024 that the conditional voluntary cash tender offer document submitted by its acquirer, Huarui Fengquan Development Co., Ltd. (Huarui), will be delayed. The offer is intended to acquire all of the issued shares of CNPG Packaging, excluding the shares owned or agreed to be acquired by Huarui and its concerted parties. According to Rule 8.2 of the Acquisition Code, the offer document was originally scheduled to be dispatched within 21 days after the announcement date of March 5. However, the precondition for the offer has not been fulfilled, including approval from relevant laws and regulations in China, no further enquiries or comments from the Shenzhen Stock Exchange on the report on major asset restructuring...Show More

China National Packaging Holdings Limited (CNPG Packaging) announced on June 28, 2024 that the conditional voluntary cash tender offer document submitted by its acquirer, Huarui Fengquan Development Co., Ltd. (Huarui), will be delayed. The offer is intended to acquire all of the issued shares of CNPG Packaging, excluding the shares owned or agreed to be acquired by Huarui and its concerted parties. According to Rule 8.2 of the Acquisition Code, the offer document was originally scheduled to be dispatched within 21 days after the announcement date of March 5. However, the precondition for the offer has not been fulfilled, including approval from relevant laws and regulations in China, no further enquiries or comments from the Shenzhen Stock Exchange on the report on major asset restructuring, approval from the shareholder of Huarui's parent company, and approval from the Market Regulation Administration, among others. Therefore, Huarui has applied to extend the deadline for the dispatch of the offer document to within 7 days after the fulfillment of the precondition or January 13, 2025. The executives have expressed their intention to approve the extension application.