HK's tunnel operator Cross-Harbour hits 4-month high on premium cash offer

Cross-Harbour Holdings

18/09/2020 02:49

** Shares of tunnel and motoring school operator
Cross-Harbour Holdings Ltd  0032.HK  surge as much as 40.6% to
HK$13.82, their highest since May 13
    ** Stock is biggest percentage gainer among all listed
companies on the Hong Kong bourse, set for best day since
trading debut
    ** Co says Chairman Cheung Chung Kiu-owned Rose Dynamics Ltd
intends to make a general cash offer to buy all outstanding
shares it does not already own at HK$14 each, or 42.4% premium
over closing price of HK$9.83 each on Sept 14 prior to a trading
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    ** Co says Rose Dynamics intends to maintain listing on the
Hong Kong stock exchange after the deal
    ** The Hong Kong benchmark index  .HSI  slides 0.1%
    ** As of last close, stock down 18.9% this year 

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