HK's Landing Int'l hits 5-week low; plans share consolidation

Shin Hwa World

30/05/2018 03:38

** Shares of resort developer Landing International
Development Ltd  0582.HK  plunge 24.5 percent to HK$0.148, their
lowest since April 25
    ** Company, with a market value of $3.1 billion, proposes to
consolidate every 50 existing shares of a par value of HK$0.01
each into one consolidated share of a par value of HK$0.50
 urn:newsml:reuters.com:*:nFWN1T00S8
    ** Company says the higher trading price will attract
investment interest from institutional and professional
investors, and enhance corporate image   
    ** As of 0228 GMT, about 221.6 million shares of the
property  company have been traded, compared with their 30-day
moving average of 249.98 million shares a day
    ** Hong Kong benchmark index  .HSI  falls 1.6 percent

($1 = 7.8453 Hong Kong dollars)

 (RM: donny.kwok.thomsonreuters.com@reuters.net)