OK's Power Assets slides as CK Infrastructure plans $293 mln share sale

Power Assets Holdings

10/01/2019 01:51

** Shares of Power Assets Holdings Ltd  0006.HK  fall as
much as 2.6 pct to HK$54.10, head for their biggest intraday pct
decline since May 2018
    ** Power co says its controlling shareholder plans HK$2.3
bln ($293.4 mln) share sale
    ** Stock tops most actively traded shares in early trade
    ** CK Infrastructure Holdings Ltd  1038.HK  plans to sell
43.80 mln shares, or 2.05 pct of the issued share capital of
Power Assets, to third-party investors, reducing its stake to
35.96 pct  urn:newsml:reuters.com:*:nFWN1Z916P
    ** CK to sell Power Assets shares at HK$52.93 each, or 4.7
pct discount to last close
    ** CK shares slide 1.1 pct after 4 straight sessions of
gains
    ** The Hong Kong benchmark index  .HSI  eases 0.8 pct
 ($1 = 7.8383 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)