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368 - Superland Group News Story

HK$0.65 0.0  6.6%

Last Trade - 4:19am

Sector
Industrials
Size
Micro Cap
Market Cap £45.7m
Enterprise Value £62.7m
Revenue £63.7m
Position in Universe 4451st / 6086

BUZZ -HK's Sinotrans soars to 8-month high on parent's buyout offer

Fri 28th September, 2018 3:11am
** Shares of Sinotrans Shipping Ltd  0368.HK  soar as much
as 44.8 pct to HK$2.62, their highest since Jan 29, after co's
controlling parent offers to take the dry bulk shipping firm
private at a premium 
    ** The stock is heading for biggest daily percentage gain
since its listing in November 2007
    ** Co says a unit of its ultimate parent China Merchants
Group Ltd offers to buy all outstanding shares it does not
already owned in the firm for HK$3.37 bln ($431.15 mln) 
 urn:newsml:reuters.com:*:nFWN1WD0PV
    ** The offer price of HK$2.70 per share represents 49.2 pct
premium to previous close 
    ** Sinotrans is 65.13 pct owned by Sinotrans Shipping
(Holdings) Ltd, an indirect unit of state-owned China Merchants
Group 
    ** The co will withdraw listing after the deal, while it
will continue its core shipping, chartering businesses 
    ** Co says the deal will lead to a more efficient and
cost-effective structure for controlling parent, which is facing
 shipping industry headwinds from escalating trade tension
between China and the U.S.
    ** As of last close, Sinotrans stock down 9.05 pct so far
this year

    ($1 = 7.8163 Hong Kong dollars)

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