SUNCORP TECH (01063.HK): Sells Entire Stake in BFB Health at a Discount for HKD 12.7 Million

NewTimeSpace News: On 8 September 2026, Suncorp Technology Limited (stock code: 01063) announced that on 7 September 2026 it sold 29,580,000 shares in BFB Health Limited (stock code: 00205) to the buyer, BFB Group Limited, for a consideration of HKD 12.7 million (excluding transaction costs). The average price of approximately HKD 0.43 per share represents a discount of approximately 24.56% to the closing price on the transaction date and approximately 19.93% to the average closing price over the preceding five trading days. Following completion, the company no longer holds any BFB Health shares. The buyer is an independent third party whose ultimate majority beneficial owner is Wu Mansheng, holding a 92.4% interest.

As the highest applicable percentage ratio (on an aggregate basis) exceeds 5% but is below 25%, the disposal constitutes a discloseable transaction under Chapter 14 of the Listing Rules. The proceeds will be applied toward general working capital and funding future investments, and are expected to be fully deployed by 31 December 2026. The company stated that the disposal enables timely realization of the investment, mitigates volatility risk, optimizes the securities portfolio and increases cash reserves.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.