HK-listed Baoye hits 7-month low on halting privatisation proposal
10/11/2020 04:49
** Shares of Chinese construction services provider Baoye
Group Co Ltd 2355.HK fall as much as 18.5% to HK$3.70, their
lowest since March 30
** Stock last down 12.1%, set for worst day since Sept. 10
** Zhejiang-based company says its board has received a
letter from its controlling shareholder advising that he has
decided not to proceed further with a potential privatisation
proposal. It gives no further details urn:newsml:reuters.com:*:nFWN2HV0PL
** The Hang Seng China enterprises index .HSCE slides
0.5%, while the benchmark index .HSI gains 0.7%
** As of last close, the stock is down 8.1% this year
(Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)