HK-listed Beijing Jingneng surges on possible privatisation bid

Beijing Jingneng Clean Energy

07/07/2020 03:23

** Beijing Jingneng Clean Energy Co Ltd  0579.HK  soars as
much as 36.7% to HK$2.16, highest since February 2018
    ** Stock top percentage gainer on the bourse and heads for
its best day since listing in December 2011
    ** Co says controlling shareholder Beijing Energy Holding Co
Ltd intends to make a conditional voluntary cash general offer
for outstanding shares it does not already own  urn:newsml:reuters.com:*:nFWN2ED0EO
    ** Says offer could result in privatisation and delisting,
adds details and terms are yet to be finalised
    ** As of last close, the stock of Beijing-based power plants
operator had surged 16.2% this year 
    ** Stock has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 11.5 percentage points in the
past month 
    ** The Hang Seng China enterprises index  .HSCE  rises 1%, 
while the benchmark index  .HSI  gains 0.7% 

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