HK's Convenience Retail hits 7-year high on special dividend upon unit sale

Convenience Retail Asia

05/11/2020 02:16

** Shares of Convenience Retail Asia Ltd  0831.HK  jump as
much as 28.9% to HK$5.27, their highest since October 2013, on
track for a second consecutive session of gains
    ** Stock set for the best day since July 2009; ranks the
sixth-biggest percentage gainer among all listed companies on
the Hong Kong bourse 
    ** Canadian convenience store operator Alimentation
Couche-Tard Inc  ATDb.TO  has entered the Asian market through a
deal to buy Convenience Retail Asia's Hong Kong unit for HK$2.79
bln ($359.80 mln)  urn:newsml:reuters.com:*:nL1N2HR03A
    ** The Circle K convenience stores and Saint Honore bakery
chain operator plans to declare a special dividend of HK$3.85
per share to its shareholders, with the dividend to be paid
before the end of 2020  
    ** The Hong Kong unit operates a network of Circle
K-licensed convenience stores, with 340 company-operated sites
in Hong Kong and 33 franchised sites in Macau
    ** The Hong Kong benchmark index  .HSI  rises 1.9%

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