2nd November 2026 – (Hong Kong) Fameglow Holdings Ltd, the listed parent of medical-aesthetic brand perFACE — which uses actress Isabella Leong as its face — has changed hands less than four months after graduating from GEM to the Main Board, at a cash offer that values the whole company at only about 614 million dollars.
Controlling shareholders chairman and executive director Yip Chun Kwok Danny, executive director and chief executive Fu Chi Ching, and Equal Joy Holdings Limited, together holding 56.93 per cent, agreed to sell. The pair founded the group and are spouses. Buyer Sheng Zhan International Limited is linked to Man Hoi Yuen and Ng Yuen Chun, former controlling shareholders of Yield Go, now renamed China Digital Technology (1796).
Fameglow halted from 1.00pm on 23rd October pending an inside-information notice under the Takeovers Code. Just before the stop it was capitalised at about 31.69 billion dollars on a closing price of 38.70 dollars, with a trailing price-to-earnings multiple above 570 times. The general offer is struck at 0.75 dollars a share — a discount of about 98.06 per cent to that last close — implying equity worth roughly 614 million dollars rather than the pre-halt market headline.
After last Friday’s deal announcement, the stock resumed this morning soft but orderly. Early trade showed 32.98 dollars, down about 14.5 per cent from 38.70, shrinking the market capitalisation from 31.69 billion to about 27 billion dollars while the trailing multiple still sat near 486 times — still far above the offer maths.
The company listed on GEM in 2018 as a smaller board name and, on strong profits, said on 22nd June that a transfer to the Main Board had been approved, closing that day at 11.60 dollars. Shares then climbed hard: the session before the halt saw an intraday high of 45.68 dollars and a close of 38.70, nearly 2.34 times the June transfer-day close and a market value close to 31.7 billion dollars. Measured from a low near 2.15 dollars at the end of October last year, the pre-halt close was up about seventeenfold.
Yip’s father, Dr. Yip Shu-lam, founded Wing Hing Group, the local agent for Blue Ribbon beer. Fameglow said that as of the year ended 31st March it ran 16 centres in Hong Kong and Macau under the Leong-backed brand. Latest full-year net profit was 54.641 million dollars, up 19.5 per cent, on revenue of about 590 million dollars, up 35.5 per cent. Net assets were about 200 million dollars, bank balances and cash about 111 million dollars, and the gearing ratio 57.6 per cent.
