Property firm China Goldjoy hits 7-1/2-month high on stake acquisition plan

Glory Sun Land

22/01/2019 02:26

** Shares of China Goldjoy Group Ltd  1282.HK  jump as much
as 13.8 pct to HK$0.495, their highest since June 4, 2018
    ** Stock rises after the financial service provider and
property developer said it will expand business after acquiring
stake in property and cultural sports developer New Sports Group
 0299.HK  
    ** Co says its unit has agreed to buy 37.18 pct of New
Sports Group in a deal to be settled by issuing 1.51 bln new
shares  urn:newsml:reuters.com:*:nFWN1ZL07Y
    ** Co says its unit will make a mandatory cash of offer of
HK$0.435 apiece for all outstanding shares it does not already
own in New Sports Group
    ** Stock in New Sports Group surges as much as 52.3 pct to
HK$0.64, highest since Dec 27, 2018 
    ** New Sports Group has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 41.3 percentage
points in the past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
falls as much as 1.2 pct, and the property sub-index  .HSNP 
slides up to 0.1 pct
    ** The Hong Kong benchmark index  .HSI  eases 0.4 pct

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