Brief: Shangtex Holding offers to buy Luen Thai Holdings for HK$1.49 billion

Luen Thai Holdings

26/10/2016 11:16

Oct 26 (Reuters) - Luen Thai Holdings Ltd  0311.HK  
    * hsbc, on behalf of offeror, intends to make voluntary 
conditional cash offer to acquire all of issued shares from 
shareholders at offer price of hk$1.80 per share 
    * aggregate cash consideration payable by offeror under 
offer will amount to HK$1.49 billion assuming full acceptance of 
offer 
    * offeror parent is Shangtex Holding co; offeror is Shangtex 
(Hong Kong) Limited 
    * Company intends to declare and pay a special interim cash 
dividend of not less than hk$0.82 per share 
    * application has been made by company to stock exchange for 
resumption of trading in shares with effect from 9 : 00 a.m. On 
27 october 2016 
    * For each share hk$1.80 in cash 
    * disposal vendor (a wholly-owned subsidiary of company) and 
disposal purchaser entered into disposal agreement 
    * sale of disposal businesses  at a total consideration of 
us$110.3mln 
    * disposal purchaser is torpedo management limited 
 
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