HK-listed C.banner hits 6-week high on sale of toys unit

C banner International Holdings

15/05/2019 03:07

** Shares of C.banner International Holdings Ltd  1028.HK 
rise as much as 12.2% to HK$0.415, their highest since April 1,
2019 after the footwear maker and toys retailer reaches a deal
to sell its toys unit 
    ** Hamleys, the world's oldest toy retailer, is set to pass
from Chinese to Indian control after Reliance Industries Ltd
 RELI.NS  agreed to buy the British high street icon from Hong
Kong-listed C.banner International  urn:newsml:reuters.com:*:nL3N22L4NP urn:newsml:reuters.com:*:nFWN22Q0RI
    ** Through its Reliance Brands subsidiary, the Indian
conglomerate said it signed an agreement to buy the 250-year-old
chain from C.banner in a deal worth $88.5 million 
    ** As of last close, C.banner has fallen 17.8% so far this
year
    ** It has outperformed the Hang Seng Commerce & Industry
Index sector  .HSNC  by 4.5 percentage points in the past one
month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  is up 1.3%, and the benchmark index  .HSI 
climbs 0.8%

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