HK-listed Vinda jumps on $3.35 bln bid from Indonesian billionaire Tanoto-run fund

Vinda International Holdings

15/12/2023 02:27

** Shares of Hong Kong-listed tissue and diaper maker Vinda
International  3331.HK  jump 9.7% to HK$22.70, their highest
since April 18, on track for a second session of gain
    ** Stock on course for biggest one-day pct rise since Aug 7,
if trend holds; fourth biggest pct gainer in the Hang Seng
Composite Index  .HSCI    
    ** Vinda says Indonesian billionaire Sukanto Tanoto-owned
Royal Golden Eagle has made an offer to acquire co for up to
HK$26.13 bln ($3.35 bln)
    ** The offer price of HK$23.50 per share in cash represents
a 13.5% premium to the stock's Thursday closing price of
HK$20.70 
    ** Swedish parent Essity AB  ESSITYa.ST  says it supports
the offer and has signed an undertaking to accept it for all of
its 51.59% shareholding in Vinda
    ** The Hang Seng Composite Index rises 1.8%, the Hang Seng
Index  .HSI  surges 1.9%
    ** Vinda stock down 2% YTD

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