HK department store operator Sincere hits near 8-mth high on reorganisation talks

Sincere

01/02/2019 02:09

** Shares of Sincere Co Ltd  0244.HK  jump as much as 49.75
pct to HK$0.295, their highest since June 11, 2018, after the
department store operator says it is in talks of reorganisation
that may trigger an obligation to make a general offer
    ** Co says it is in discussion with advisers about
reorganisation of its corporate structure, which may trigger an
obligation to make a general offer for the company shares (https://bit.ly/2BnOwQD)
    ** Co, with market value of HK$244 mln ($31.1 mln), says no
decision has yet been taken to proceed with the reorganisation
    ** Sincere has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 18.9 percentage points in the
past one month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  climbs 0.3 pct, while the benchmark index
 .HSI  edges down 0.2 pct 


($1 = 7.8445 Hong Kong dollars)

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