HK-listed Kangda hits near 11-month high as China Water buys stake

China Water Affairs

04/04/2019 02:52

** Shares of China's urban water treatment firm Kangda
International Environmental Co Ltd  6136.HK  surge as much as 22
pct to HK$1.50, highest since May 25, 2018
    ** Sewage treatment service group China Water Affairs Group
Ltd  0855.HK  agrees to buy 29.52 pct of Kangda International
from major shareholder Zhao Sizhen for HK$1.2 bln ($152.9 mln)
 urn:newsml:reuters.com:*:nFWN21L045
    ** China Water says deal will expand capacities of its core
water supply and sewage treatment businesses and geographical
coverage, while unlocking values of both companies
    ** Shares of China Water rises 1.9 pct to HK$8.66, highest
since March 19
    ** As of last close, Kangda shares had risen 89.2 pct this
year
    ** Kangda stock has outperformed the Hang Seng Utilities
Index sector  .HSNU  by 3.1 percentage points in the past month
    ** The Hang Seng China enterprises index  .HSCE  gains 0.4
pct, and the benchmark index  .HSI  edges up 0.1 pct
($1 = 7.8484 Hong Kong dollars)

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