Ant Group's HK$2.8 billion takeover offer approved, Yao Cai Securities surged over 60% intraday

Wealth Financial Wang Min On March 17, Yau Tai Securities Finance (HK:01428) surged over 62% during trading, closing at HKD 15.05, with a total market capitalization of HKD 25.544 billion.

Last night, Yau Tai Securities Finance announced that the tender offer initiated by Ant Group has been approved by relevant Chinese authorities, and the settlement is expected to be completed by March 30.

This means the most critical part of the acquisition has now been completed. The announcement also mentioned that the company’s stock, which was briefly suspended on the 16th, will resume trading starting from the market open on the 17th.

In April 2025, Ant Group, through its subsidiary Shanghai Yunjin Information Technology Co., Ltd., launched a tender offer to Yau Tai Securities Finance at HKD 3.28 per share, acquiring approximately 50.55% of Yau Tai Securities Finance’s shares, with a total transaction amount of HKD 2.814 billion.

In October of the same year, the acquisition was approved by the Hong Kong Securities and Futures Commission, allowing Ant to become a shareholder of several regulated subsidiaries under Yau Tai.

In November 2025, Yau Tai Securities announced that, considering the reporting procedures with relevant authorities and the holidays in the first quarter of 2026, more time would be needed to complete the filing with the National Development and Reform Commission. Therefore, the offeror and the seller revised several terms of the share purchase agreement, including extending the final deadline to March 25, 2026, and increasing the deposit from HKD 140 million to HKD 164 million.

Public information shows that Yau Tai Securities Finance was established in 1995 by Ye Maolin, known as the “Money Hunter,” and was listed on the Hong Kong Stock Exchange in 2010.

Yau Tai Securities Finance holds licenses 1/2/3/4/5/7/9 issued by the Hong Kong Securities and Futures Commission. Its core businesses include securities brokerage, margin financing, commodities and futures brokerage, and spot gold trading.

Yau Tai Securities Finance’s 2025/2026 interim report indicates that for the six months ending September 30, 2025, the group recorded revenue of HKD 496.9 million, a 10.7% increase from the same period last year; net profit attributable to shareholders was HKD 326.9 million, up 4.8% year-over-year.

Related company: Ant Group