L'Occitane slumps as owner decides against deal to take it private

L'Occitane International SA

05/09/2023 03:29

** Shares of skincare specialist L'Occitane International SA
 0973.HK  drop as much as 29.1% to HK$19.70, and on course for
the biggest one-day pct decline since debut in May 2010 
    ** Stock hit the lowest since July 24; second biggest pct
loser in Hang Seng Composite Index  .HSCI  and on the Hong Kong
bourse 
    ** Co said its controlling shareholder had decided against a
potential deal to take the company private, curbing speculation
of a possible re-listing on a European exchange 
    ** Hang Seng Commerce & Industry Index  .HSNC  falls 1.1%
and Hang Seng Consumption Index  .HSCGSI  declines 1.3%
    ** Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both drop 1.3%
    ** As of last close, the stock had risen 14.2% this year

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