HK's Ground International rises as top shareholder increases stake

China Changbaishan International Holdings

03/10/2018 03:34

** Shares of telecommunications products retailer Ground
International Development Ltd  0989.HK  rise as much as 6.3 pct
to HK$1.19, their highest since Sept 24
    ** The China-focused firm says chairwoman and controlling
shareholder Cui Xintong bought 30.44 mln co shares between Sept
18 and Oct 2, raising her stake to 3.85 bln shares, or 73.01
pct, of the company  urn:newsml:reuters.com:*:nFWN1WI10U
    ** Co, with a market value of about $753 mln, says Cui will
continue to increase her shareholding in the company 
    ** As of last close, stock down 41.1 pct so far this year
    ** Ground International has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 14.3 percentage
points in the past one month
    ** The Hong Kong benchmark index  .HSI  rises up to 0.3 pct

    ($1 = 7.8383 Hong Kong dollars)

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