HK-listed L'Occitane hits over 2-year peak as owner plans to take it private

L'Occitane International SA

30/04/2024 02:58

** Shares of L'Occitane International SA  0973.HK  jump as
much as 12.9% to HK$33.30, their highest since January 2022, in
resumed trade
    ** Stock on course for biggest one-day pct rise since May 5,
2023; top gainer on the Hang Seng Composite Index  .HSCI  
    ** L'Occitane said on Monday its chairman and controlling
shareholder would take the French skincare firm private, valuing
it at a maximum of HK$13.91 billion ($1.78 billion)
    ** As part of the deal, Chairman Reinold Geiger will pay
HK$34 for each share not already owned, representing a 15.25%
premium to the closing price of HK$29.50 on April 8 prior to a
trading halt 
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.3%, while the Hang Seng Composite Index and the Hang Seng
Index  .HSI  both add 0.2%
    ** Stock up 46.9% YTD  

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