HK-listed Elec & Eltek jumps to 8-year high on parent's buyout bid

Kingboard Holdings

03/04/2020 03:12

** Hong Kong-listed shares of printed circuit board maker
Elec and Eltek International Co Ltd  1151.HK  soar as much as
82.6% to HK$19.60, the highest since August 2012, after parent
offers to take company private at premium
   ** Stock tops the biggest pct gainers among all listed
companies on the Hong Kong bourse 
    ** Controlling shareholder Kingboard Holdings  0148.HK 
offers to take Elec and Eltek private for HK$891 mln ($115 mln)
 urn:newsml:reuters.com:*:nFWN2BQ1FB
    ** Kingboard offers to buyout Elec and Eltek at HK$18.07 per
share, or 70.5% premium over the last closing price of HK$10.60
each
    ** Elec and Eltek shares in Singapore  EELT.SI  surge 82%
    ** Stock of Kingboard Holdings falls 1%
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
slides 0.3%, and the benchmark index  .HSI  falls 0.5%

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