Possible exit offer for China XLX

CHINA XLX Fertiliser has been approached by controlling shareholder Pioneer Top Holdings over a possible exit offer for the shares that it does not yet own.

The offer, if made, is not intended to take the company private as China XLX shares will continue to be listed in Hong Kong.

In a regulatory filing yesterday, China XLX said the possible exit offer would be at a cash consideration of 40 cents per share, and is in connection with a possible voluntary delisting from…