HK marine services firm Prosper hits record high on general offer

Prosper Construction Holdings

02/08/2018 03:42

** Shares of marine construction service firm Prosper
Construction Holdings Ltd  6816.HK  surge 15.8 pct to HK$1.32 -
an all-time high since listing in July 2016 - on a stake sale by
a major shareholder that will lead to a general offer   
    ** Co says major shareholder Sky Hero Global Ltd has agreed
to sell a 51 pct stake to China state-backed Qingdao West Coast
Holdings (Internation) Ltd at a price equivalent to 15.6 pct
premium to its previous close for HK$537.54 million ($68.5
million) urn:newsml:reuters.com:*:nFWN1US0XX
    ** Co says Qingdao West Coast will be required to make a
general offer for the outstanding shares it does not already own
at HK$1.3175 apiece
    ** As of the previous close, the stock had risen 135.05
percent so far this year. 
    ** As of 0153 GMT, about 13.02 million shares of the Hong
Kong-based contractor changed hands, compared with their 30-day
moving average of 1.39 million shares a day
    ** Hong Kong's benchmark index  .HSI  falls 1.2 pct
    ($1 = 7.8484 Hong Kong dollars)

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