HK's Guoco near 9-mth high on parent offer to take it private

Guoco

03/07/2018 07:32

** Shares of Guoco Group Ltd  0053.HK  rise 9.3 pct to HK$129,
their highest since Oct. 13, after parent offers to take the
company private at a premium 
** The property and financial services group says its parent
Hong Leong Co (Malaysia) Berhad has offered to take the company
private for HK$12.49 billion ($1.59 billion), in a move to save
cost and simplify group structure  urn:newsml:reuters.com:*:nFWN1TY0C5
** Hong Leong offers HK$135 per share for all outstanding Guoco
shares it does not already own, representing a 14.4 percent
premium to previous close  
** As of 0615 GMT, some 351,573 Guoco shares were traded,
compared with their 30-day moving average of 35,100 shares a
day.
** Hong Kong benchmark index  .HSI  falls 1.9 percent

 (RM: donny.kwok.thomsonreuters.com@reuters.net)