M&A - Bo Yu Ltd

Form Type: SCHEDULE 13D

Filing Date: 2025-03-07

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925021530

Filing Summary: On March 1, 2025, Bo Yu Limited submitted a preliminary non-binding indicative proposal to acquire all outstanding Ordinary Shares of OneConnect Financial Technology Co., Ltd., which it does not already own. The acquisition is proposed to be conducted through a court-sanctioned scheme of arrangement in the Cayman Islands, with a Cancellation Price of HK$2.068 per share, equivalent to approximately US$7.98 per American Depository Share (ADS). This proposal requires the approval of at least 75% of disinterested shareholders during a general meeting, with a stipulation that no more than 10% vote against it. On March 3, 2025, OneConnect Financial Technology announced that it had received this indicative proposal. Bo Yu does not plan to revise the Cancellation Price and has stated that if the process advances to a firm offer, confirmed intentions regarding the Cancellation Price would be communicated. However, the indicative proposal remains preliminary and non-binding, and no certainty exists that it will evolve into any formal offer or transaction.

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