Why Metals X Is Betting $134M on a Partial Stake in Greentech Amid Trading Freeze

• Partial offer to acquire 382.48 million shares (28%) in Greentech at HK$0.35 per share
• Offer values shares at 25% premium to last trading price before suspension but discounts recent averages and net asset value
• Greentech failed to satisfy pre-conditions for a full offer, prompting Metals X to proceed with partial offer
• Offer subject to regulatory consents and waivers under Hong Kong Takeovers Code