HK beauty services firm Natural Beauty hits 13-month high on expected general offer

Natural Beauty Bio-Technology

31/07/2018 03:20

** Shares of Natural Beauty Bio-Technology Ltd  0157.HK 
jump 36 pct to HK$0.83, their highest since June 27, 2017 after
the beauty services provider flags potential change of control
that may lead to a general offer for the company's shares
    ** Co says major shareholder Next Focus Holdings has agreed
to sell a 51 pct stake in the firm for HK$918.96 million ($117.1
million), reducing its stake to 22.24 pct from 73.24 pct. The
deal will lead to a change in control of the firm.  urn:newsml:reuters.com:*:nFWN1UQ12E
    ** Natural Beauty, with current market value of $204
million, says the potential buyers, including a unit of Eastern
Media International Corp  2614.TW  and Good Titanic Ltd, will be
required to make a general offer for outstanding shares they do
not already own 
    ** As of 0147 GMT, about 3.78 million shares of the beauty
services firm changed hand, compared with their 30-day moving
average of 357,020 shares a day.
    ** Taiwan-listed stock of Eastern Media up 2.4 pct     
    ** Hong Kong benchmark index  .HSI  slides 0.4 pct
    ($1 = 7.8484 Hong Kong dollars)

 (RM: donny.kwok.thomsonreuters.com@reuters.net)