Canned food producer Kangda soars as parent in talks to sell control

Shengrong Holding

29/01/2019 02:26

** Shares of China Kangda Food Co Ltd  0834.HK  soar as much
as 108 pct to HK$1.04, their highest since March 1, 2018, after
the canned food producer says its parent is in talks to sell
control 
    ** Stock set for biggest single-day percentage gains since
listing in December 2008
    ** Co says its controlling shareholder China Tian Yuan
Manganese Ltd is in talks to sell its entire 69.46 pct company
stake to a third party investor  urn:newsml:reuters.com:*:nFWN1ZS0ZP
    ** Co, with market value of HK$407 mln ($51.9 mln), says the
deal may trigger an obligation for the third party to make a
general offer for all outstanding shares in the company  
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  eases 0.5 pct, and the benchmark index
 .HSI  slides 0.7 pct
($1 = 7.8458 Hong Kong dollars)

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