StanChart's HK stock falls on sale of private equity division

Chinasoft International

18/12/2018 03:52

** Hong Kong-listed shares of Standard Chartered PLC
 2888.HK  fall as much as 2.3 pct to a week low at HK$58.20, 
after it agrees terms for sale of its private equity division
    ** StanChart  STAN.L  will sell a majority of private equity
arm's investment portfolio to funds managed by Intermediate
Capital Group Plc  ICP.L  and it expects to take a restructuring
charge of about $160 million from the sale  urn:newsml:reuters.com:*:nL3N1YM3B3
    ** The deal is ending a more than two-year effort to shed a
business the bank no longer deemed central to its strategy 
    ** As of last close, the stock in Hong Kong had fallen 26.7
pct so far this year
    ** StanChart has outperformed the Hang Seng Finance Index
sector  .HSNF  by 0.9 percentage point in the past one month
    ** The Hong Kong benchmark index  .HSI  slides 0.8 pct

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