HK TECH VENTURE (01137.HK) Rises 6.81%; Buyback at 20% Premium Receives 2.2x Valid Acceptance

　　HK TECH VENTURE (01137.HK) +0.180 (+9.424%) opened flat today, peaking at $2.05. It last printed at $2.04, up 6.81%, on a volume of 805,000 shares and a turnover of $1.6029 million.

　　HK TECH VENTURE earlier announced plans to buy back and cancel up to 100 million shares of the company at a premium of 20.8% and at a price of $2.15 per share. The buyback offer closed at 4 pm yesterday (23 July), with valid acceptances in respect of a total of nearly 220 million shares received, representing about 2.2x of the maximum number to be bought back, and around 24.72% of the total number of issued shares.

　　After the buyback shares were cancelled, the aggregate interest of the Top Group concert group in the issued shares is expected to increase from 45.75% to 51.72%, assuming all share options will be fully exercised.

　　(HK stocks quote is delayed for at least 15 mins.)