Brief: Lai Sun Development Says HSBC, On Behalf Of Unit, To Make Offer To Acquire Lai Fung

Lai Fung Holdings

21/02/2020 15:01

Feb 21 (Reuters) - Lai Sun Development Co Ltd  0488.HK :
    * HSBC, ON BEHALF OF UNIT OF LAI SUN DEVELOPMENT (LSD)
INTENDS TO
MAKE OFFER TO BUY ALL OF LAI FUNG NOT ALREADY OWNED BY LSD
    * OFFER PRICE FOR EACH LF SHARE HK$8.99 IN CASH
    * ESUN SEES LOSS BEFORE TAXATION OF ABOUT HK$8,000 MILLION
FROM
DISPOSING LF SHARES OWNED IF IT ACCEPTS OFFER
    * UPON COMPLETION OF ESUN DISPOSAL, ESUN WILL NO LONGER HOLD
ANY
INTEREST IN LAI FUNG
    * ESUN HOLDS 168.8 MILLION LF SHARES, ON THIS BASIS, GROSS
PROCEEDS FROM ESUN DISPOSAL WILL AMOUNT TO ABOUT HK$1,517.4
MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS7YmmpH
Further company coverage:  0488.HK 

 (Reuters.Briefs@thomsonreuters.com)