SOHO China jumps most in 15 months on Blackstone's $3.1 bln buyout offer

SOHO China

17/06/2021 03:15

** Shares of office developer SOHO China Ltd  0410.HK  surge
 25.8% to HK$4.78 in resumed trade, their biggest intraday
percentage gain since March 2020
    ** Blackstone Group Inc  BX.N  will buy all issued shares in
SOHO China for HK$23.7 bln ($3.05 bln) and maintain its stock
market listing, the Chinese office developer said in a filing on
Wednesday  urn:newsml:reuters.com:*:nL3N2NY12L
    ** The U.S. private-equity firm will offer HK$5 per share,
31.6% higher than the last closing price of HK$3.8 on Friday, in
what would be its largest real estate deal in China
    ** SOHO's China-based stock, which halted trade on June 15
pending release of the statement, hit its highest since March
12, 2020; stock is the second-most actively traded by turnover
and the third-biggest percentage gainer on the Hong Kong bourse
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  slips 0.4%
    ** The Hang Seng China enterprises index  .HSCE  and  and
the benchmark index  .HSI  ease 0.5% each
    ** As of last close, stock up 64.5% this year 

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