HK-listed Canvest hit near 5-month peak as Grandblue mulls to buy shares

Canvest Environmental Protection

08/07/2024 04:22

** Shares of Canvest Environmental Protection Group Co Ltd
 1381.HK  jump 9.1% to HK$4.43, the highest since Feb. 19, and
on track to snap two sessions of fall 
    ** Stock last up 7.9%, on course for the biggest one-day pct
gain since Aug. 3, if trend holds
    ** The waste-to-energy plants operator and hygiene services
provider says Grandblue Environment  600323.SS  is exploring a
potential acquisition of the company's shares, which may include
a potential pre-conditional offer to privatise the company
    ** Says the possible privatisation would involve an
indicative cancellation price of HK$4.90 per company share
    ** Shanghai-listed Grandblue Environment  600323.SS  jumps
6.5% to 22.67 yuan, highest since October 2021  
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 0.6%
and Hang Seng Index  .HSI  falls 1.2%
    ** Canvest shares rose 18.5% YTD, Grandblue up 31% YTD 

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