Beijing Capital Land hits near 18-month high on privatisation offer

Beijing Capital Grand

12/07/2021 03:17

** Shares of Beijing Capital Land Ltd  2868.HK  soar 43% to
HK$2.46, their highest since January 2020, as trading resumed
    ** Stock heads for the best day since June 25; the biggest
percentage gainer on the Hong Kong bourse and among the 30 most
actively traded by turnover
    ** Chinese real estate developer says 56.70% controlling
shareholder Beijing Capital Group Co plans to offer
HK$2.80/share to take co private amid low trading volume of
stock  urn:newsml:reuters.com:*:nFWN2OL0IL
    ** The offer price represents a premium of 62.8% to the
previous close of HK$1.72 prior to a trading halt on July 8
    ** Says co will apply to the stock exchange for withdrawal
of listing of its H shares on completion of the deal
    ** Shares of Beijing Capital Grand Ltd  1329.HK , in which
Beijing Capital Land has a 72.9% stake, jump 33.3% to HK$1.40
    ** Stock of Beijing Capital Grand on track for the best day
since March 2019 and the second-biggest percentage gainer on the
Hong Kong bourse 
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  gains 0.6%
    ** The Hang Seng China Enterprises Index  .HSCE  climbs
0.5%, and the benchmark index  .HSI  gains 0.4%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))