Chinese Estates shares set to surge after it says to go private

Chinese Estates Holdings

07/10/2021 02:20

HONG KONG, Oct 7 (Reuters) - Shares of Chinese Estates
Holdings  0127.HK , a former major shareholder of embattled
developer China Evergrande  3333.HK , were set to jump 27.9% on
Thursday after it announced an offer to take the company private
for HK$1.91 billion ($245 million).  
    The Hong Kong developer said it had proposed to be taken
private by Solar Bright Ltd, backed by the family of Chinese
Estate's biggest shareholder, by offering minority shareholders
HK$4 apiece.  
    The stock was set to open at HK$3.71.
         

($1 = 7.7857 Hong Kong dollars)

 (Reporting By Clare Jim and Donny Kwok; Editing by Anne Marie
Roantree and Muralikumar Anantharaman)
 ((annemarie.roantree@thomsonreuters.com; +852 97387151; Reuters
Messaging: annemarie.roantree.thomsonreuters.com@reuters.net))