Shenzhen Investment Holdings Bay Area jumps as Shenzhen Expressway buys majority stake

Shenzhen International Holdings

11/08/2021 05:11

** Shares of highway and infrastructure developer Shenzhen
Investment Holdings Bay Area Development Co Ltd  0737.HK  surge
10.5% to HK$3.15, biggest intraday jump since March 11, set to
snap two consecutive session of decline
    ** Shenzhen Expressway Co Ltd  600548.SS  0548.HK  says its
unit has agreed to buy co's controlling shareholder Shenzhen
Investment International Capital Holdings Infrastructure Co Ltd
for HK$2.45 bln ($314.8 mln), with a total cost of up to HK$10.5
bln including debts  urn:newsml:reuters.com:*:nP8N2P4022
    ** Shenzhen Expressway says it will hold an indirect 71.8%
stake in Shenzhen Investment Holdings Bay Area Development after
the deal, expanding the scale and profit base of its toll
highway business
    ** Stock hits highest since March 24
    ** The Hong Kong Hang Seng Composite Index tracking
properties and construction stocks  .HSCIPC  rises 3.1%, and the
Hang Seng Composite Index  .HSCI  climbs 0.5%
    ** The Hang Seng China Enterprises Index  .HSCE  gains 0.8%,
and the benchmark index  .HSI  is up 0.5%
    


($1 = 7.7824 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))