HK department store operator Sincere hits 28-month high on Realord's cash offer

Realord Technology

18/05/2020 04:49

** Shares of department store operator Sincere Co Ltd
 0244.HK  rise as much as 15.7% to HK$0.405, their highest since
Jan. 31, 2018 
    ** Stock last up 10% at HK$0.385, heads for its best day
since Jan. 13
    ** Realord Group Holdings Ltd  1196.HK  makes a voluntary
conditional cash offer to buy all issued shares of Sincere for
HK$500.1 mln ($64.5 mln)  urn:newsml:reuters.com:*:nFWN2CX0Y5
    ** Intends to maintain Sincere's listing on the stock
exchange 
    ** The offer price of HK$0.3806 per share represents a
premium of 8.7% to Sincere's last closing price of HK$0.35 
    ** Shares of financial printing services provider and asset
management firm Realord Group rise as much as 1.6%   
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
rises 0.8%, and the Hong Kong benchmark index  .HSI  gains 0.4%
($1 = 7.7517 Hong Kong dollars)

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