Haitong International doubles as parent offers to take it private

Haitong International Securities

09/10/2023 08:33

** Shares of Haitong International Securities Group
 0665.HK  more than doubles to HK$1.41, highest since March 2022
    ** Parent Haitong Securities  600837.SS  offers to take the
unit private
    ** Stock of the Hong Kong-listed firm marks the biggest
one-day pct gain since debut in August 1996
    ** Stock biggest pct gainer in Hang Seng Composite Index on
financials stocks  .HSCIF 
    ** Shanghai-based parent Haitong Securities offers up to
HK$3.5 bln ($443 mln) for all the shares it does not own in its
Hong Kong-listed unit 
    ** Haitong Securities offers HK$1.52 per share for the
outstanding shares of the Hong Kong unit, representing a 114%
premium over Haitong International' previous close of HK$0.71
each
    ** Shares of Shanghai-listed Haitong Securities  600837.SS 
slip 1%
    ** Hang Seng Composite Index on financials stocks  .HSCIF 
climbs 0.3%, while Hang Seng Composite Index  .HSCI  and Hang
Seng Index  .HSI  both gain 0.4% 
    ** Stock of HK-listed firm up 62.6% YTD


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))