Announcement • Jul 09
Shenzhen Chengtun Industrial Development Co., Ltd. completed the acquisition of 0.15% stake in Rimbaco Group Global Limited (SEHK:1953) for HKD 0.03 million. Shenzhen Chengtun Industrial Development Co., Ltd. proposed to acquire remaining 25% stake in Rimbaco Group Global Limited (SEHK:1953) for HKD 52.6 million on April 24, 2026. A cash consideration valued at HKD 0.167 per share will be paid by Shenzhen Chengtun Industrial Development Co., Ltd. As part of consideration, HKD 52.605 million will be paid towards common equity of Rimbaco Group Global Limited. Upon completion, Shenzhen Chengtun Industrial Development Co., Ltd. will own 100% stake in Rimbaco Group Global Limited. The Consideration payable under the acquisition was financed by the internal resources of the Offeror, and the Offeror intends to finance the total cash consideration payable by the Offeror under the Offer from its internal resources. The internal resources of the Offeror were in turn wholly funded by the ultimate beneficial owners of the Offeror. CMB International and CEB International, as the joint financial advisers to the Offeror in respect of the Offer, are satisfied that sufficient financial resources are available to the Offeror to satisfy the maximum consideration payable upon full acceptance of the Offer. In a related transaction, Shenzhen Chengtun Industrial Development Co., Ltd. completed the acquisition of 75% stake in Rimbaco Group Global Limited (SEHK:1953) from RBC Venture Limited.
The Independent Board Committee comprising all the independent non-executive Directors who have no direct or indirect interest in the Offer, namely Ng Kok Seng, Wong Chi Wai and Yeo Chew Yen Mary, will be established pursuant to Rules 2.1 and 2.8 of the Takeovers Code to make a recommendation to the Offer Shareholders as to whether the Offer is fair and reasonable and as to the acceptance of the Offer.
The Offer will be unconditional in all respects and will not be conditional upon acceptances being received in respect of a minimum number of Shares or any other conditions. As of May 15, 2026, the transaction will close on June 9, 2026. As of June 9, 2026. the transaction will close on June 16, 2026. As of June 16, 2026. the tender offer will commence on June 16, 2026 and closed on July 7, 2026.
Octal Capital Limited acted as financial advisor for Rimbaco Group Global Limited. CEB International Capital Corporation Limited acted as financial advisor for Shenzhen Chengtun Industrial Development Co., Ltd. CMB International Capital Limited acted as financial advisor for Shenzhen Chengtun Industrial Development Co., Ltd. Grand Moore Capital Limited acted as financial advisor to Independent Board Committee of Rimbaco Group.
Shenzhen Chengtun Industrial Development Co., Ltd. completed the acquisition of 0.15% stake in Rimbaco Group Global Limited (SEHK:1953) for HKD 0.03 million on July 7, 2026. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to HK$1.07, the stock trades at a trailing P/E ratio of 62.7x. Average trailing P/E is 10x in the Construction industry in Hong Kong. Total returns to shareholders of 564% over the past three years. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$1.13, the stock trades at a trailing P/E ratio of 66.2x. Average trailing P/E is 11x in the Construction industry in Hong Kong. Total returns to shareholders of 1,052% over the past three years. 
