BUZZ-HK-listed Lifestyle soars most on record as chairman offers to take it private

Reuters2022-08-08

** Shares of department store operator Lifestyle International Holdings Ltd soar as much as 50.3% to HK$4.63 in resumed trade on Monday, their biggest daily pct gain since debut in April 2004

** Stock, which halted for trading on Aug. 5, hits the highest since Nov. 26, 2021; the biggest pct gainer on the Hong Kong bourse

** Co says its chairman Thomas Lau has through his Emerald Energy Holdings Ltd offered HK$5 per share for all outstanding shares he does not already own in a bid to take the company private for HK$1.884 bln ($240.01 mln) ()

** The issue price represents a premium of 62.34% over the previous close of HK$3.080 each prior to a trading halt

** Emerald and concerned parties own about 1.148 bln shares, or 76.49% of the issued shares capital

** Co will withdraw the shares listing from the Stock Exchange

** The Hang Seng Commerce & Industry Index falls 1.7%, and the Hang Seng consumer goods and services index

slips 0.3%

** The Hang Seng Composite Index eases 0.9% and the Hang Seng Index falls 1%

** As of last close, the stock had fallen 28.2% this year ($1 = 7.8496 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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