Yao Cai Securities receives full purchase offer from Ant and a board replacement

SighingCashier · 2026-03-30T15:05:31+00:00

Yau Tai Securities(01428) announced that Ant Group has acquired a 50.55% stake for a total of HKD 2.814 billion and has issued a cash offer of HKD 3.28 per share. Following the change in company control, several directors resigned, and new directors including Zheng Yanlan were appointed.

SighingCashier

2026-03-30 15:05:31

Abstract generation in progress

Yao Tai Securities (01428) announced that Ant Group has completed the acquisition of 50.55% of the company’s shares. The total cash consideration exceeds RMB 2.814 billion, equivalent to HK$3.28 per share. It is also required to make an unconditional, mandatory cash offer for all remaining issued shares; the offer price is HK$3.28 per share.

In addition, Ye Maolin and Chen Yongcheng have resigned as executive directors; Yu Ganggang, Sitao Weixin, Ling Guohui, and Huang Tingting have resigned as independent non-executive directors. The directors resigned because of changes in the company’s control and because they hope to devote more time to other matters.

At the same time, Zheng Yanlan has been appointed as an executive director; Huang Hao, Liu Zheng, and Lin Zhiqiu have been appointed as non-executive directors; Lin Yizhong, Jiang Guorong, Hong Changfu, and Zhang Qian have been appointed as independent non-executive directors. All appointments take effect after the despatch of the composite document.

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