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BUZZ-China VAST jumps most on record as Jinmao offers to take it private

reuters.com · 06/09/2022 22:57
BUZZ-China VAST jumps most on record as Jinmao offers to take it private

** Shares of industrial towns developer and operator China VAST Industrial Urban Development Co Ltd 6166.HK jump as much as 25% to HK$2.30 in resumed trade, the biggest daily pct gain since debut in August 2014

** Stock hits the highest since Oct. 29; third biggest percentage gainer on the Hong Kong bourse

** Major shareholder China Jinmao Holdings Group Ltd CJNHF plans to take China VAST private by offering HK$2.40 per share for shares hold by non-controlling shareholders amid low trading liquidity of the unit nFWN2XW0XP

** The offer price represents a 30.4% premium over China VAST's previous close of HK$1.84 each prior to a trading halt on June 6

** Shares of property developer China Jinmao fall 1.9%

** Hang Seng Mainland Properties Index .HSMPI drops 2.1% and Hang Seng Composite Index on properties and construction stocks .HSCIPC falls 1.5%

** The Hang Seng Composite Index .HSCI and the benchmark Hang Seng Index .HSI both slip 0.8%

** As of last close, China VAST stock had surged 20.3% this year


(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))