Golden Meditech Holdings Ltd. shareholders representing 32.66% of the company tendered their holdings to Magnum Opus 3 International Holdings Ltd.'s HK$2.52 billion all-cash offer to acquire the business.
Magnum Opus 3 is offering HK$1.25 for every Golden Meditech share it does not own. Additional shareholders representing 37.70% of the company have already agreed to tender their holdings to Magnum's offer.
All in all, Magnum now has access to 70.36% of the company and continues to satisfy the minimum public float requirement of 25% under Hong Kong's listing requirements.
Magnum Opus 3 is owned by Kam Yuen — the chairman, executive director and controlling shareholder of Golden Meditech and Qin Wall Investment Holdings Ltd.
Amasse Capital Ltd. is acting as the financial adviser to Magnus Opus.