Renewable energy products maker Singyes Solar dives to record low on share sale

China Shuifa Singyes Energy Holdings

23/01/2019 02:33

** Shares of renewable energy products maker China Singyes
Solar Technologies Holdings Ltd  0750.HK  plunge as much as 72
pct to HK$0.60 in resumed trade, the lowest since listing in
January 2009 
    ** Stock the 8th most actively traded in early trade
    ** Trading in the shares, which halted on Oct. 15, 2018,
resumed on Wednesday
    ** Co says it and its chairman controlled Strong Eagle
Holdings Ltd will sell shares representing at least 50.1 pct of
the enlarged share capital to third-party investor Shuifa Energy
Group Ltd for a sum yet to be disclosed  urn:newsml:reuters.com:*:nFWN1ZM0HS
    ** Co, with current market value of HK$751 mln ($95.7 mln),
says Shuifa will be required to make a mandatory offer for all
outstanding shares it does not already own following the deal
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
edges up 0.1 pct, and the benchmark index  .HSI  gains 0.2 pct

    
($1 = 7.8454 Hong Kong dollars)

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