Swire Pacific (0019&0087), is to privatize and delist its subsidiary Hong Kong Aircraft Engineering Company (0044), in which it currently owns a 74.99 stake.
Summary
Hong Kong rises as Europe and US wobble Debts come home to roost for Dalian Wanda More stimulus seen as PBOC holds fire Banks unmoved as HKMA follows The Fed StanChart says its CEO is here to stay HKEX says most firms will report on time Swire Pacific (0019&0087), is to privatize and delist its subsidiary Hong Kong Aircraft Engineering Company (0044), in which it currently owns a 74.99 stake. To this end, the conglomerate will acquire the remaining 25.01 percent stake which amounts to 41,601,213 shares at a price of HK$72.00, from independent shareholders. The average daily trading volume of the aircraft engineer was around 33,000 shares for the past six months ended last Friday. The proposal will only be put in effect after it passes the court meeting and special resolutions. The scheme shareholders who own the 25.01 percent will be the only ones entitled to vote on the court meeting.