HK-listed Beijing Enterprises Urban Resources falls as major shareholder trims stake

Beijing Enterprises Urban Resources

01/09/2020 02:39

** Shares of public hygiene services provider Beijing
Enterprises Urban Resources Group Ltd  3718.HK  fall as much as
9.1% to HK$1.60, their lowest since Aug. 14, after major
shareholder plans sale of HK$114.8 mln ($14.81 million) shares  
    ** Stock on track for a fifth straight session of decline  
    ** Co says major shareholder Shanghai Ziyue Enterprises
Management Partnership plans sale of 75 mln existing shares to
third-party investors at HK$1.53 each. That was compared with
Monday's close of HK$1.76 per share  urn:newsml:reuters.com:*:nFWN2FX0D7
    ** Shanghai Ziyue's stake in the company will be reduced to
3.26% from 5.34% on completion of the share sale on Sept. 3  
    ** The Hang Seng China enterprises index  .HSCE  edges down
0.2%, and the benchmark index  .HSI  slides 0.5%
($1 = 7.7501 Hong Kong dollars)

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