HK-listed AsiaInfo jumps on report of CITIC's take-private offer

AsiaInfo Technologies

25/11/2020 06:54

** Shares of Chinese software products provider  1675.HK 
rise as much as 7.4% to HK$13, highest since Sept. 21
    ** Set for second session of gains, best day since Nov. 12
    ** China's CITIC Capital plans to take telecom software
provider AsiaInfo private in a $1.8 bln deal, two sources tell
Reuters  urn:newsml:reuters.com:*:nL8N2IA1V4
    ** Prospective offer would represent a premium of ~30% to
AsiaInfo's avg share price of HK$11.5 ($1.48) over past month -
sources
    ** CITIC capital, with current 23.4% stake in AsiaInfo, is
in talks with banks to finance the deal, sources say
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 2.1%, and the Hang Seng Tech
Index  .HSTECH  drops 2.4%
    ** The Hang Seng China enterprises index  .HSCE  eases 0.3%,
while benchmark index  .HSI  gains 0.3%
    ** As of last close, AsiaInfo stock rose 36.6% this year

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)