HK-listed lamp maker NVC soars as KKR plans to take stake in China's business

NVC International Holdings

12/08/2019 02:22

HONG KONG, Aug 12 (Reuters) - NVC Lighting Holding Ltd
 2222.HK  shares are set to open 71.4% up after KKR & Co Inc
 KKR.N  said it planned to take a stake in the China lighting
business of the lighting electronic products maker. 
    The stock is set to open at HK$1.20 on Monday, the highest
open since August 2016 and above the previous close of HK$0.70
each. The benchmark Hang Seng index  .HSI  is set to fall 0.27%
    KKR said on Sunday it would take a majority stake in NVC's 
China Lighting Business for a total equity value of about $794
million. NVC will continue to own 30% of the business.
 urn:newsml:reuters.com:*:nL4N257052

 (Reporting by Donny Kwok; Editing by Stephen Coates)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters
Messaging: donny.kwok.reuters.com@reuters.net))