December 6, 2018 / 12:49 AM / 9 months ago

HK's Hopewell says chairman offers to privatise for $2.7 bln

HONG KONG, Dec 6 (Reuters) - Hopewell Holdings Ltd said a consortium led by its chairman has offered to take the property and infrastructure group private for HK$21.26 billion ($2.7 billion).

The consortium led by Chairman Gordon Wu, which owns 36.9 percent of the company, offered to buy all outstanding 547.85 million shares, or 63.1 percent of the issued share capital it does not already own, for HK$38.8 per share in cash.

The offer price represents a 46.7 percent premium over the stock’s previous close, Hopewell said in a filing to the Hong Kong bourse late on Wednesday.

Trading in the shares, which was suspended on Monday, will resume on Thursday.

$1 = 7.8140 Hong Kong dollars Reporting by Donny Kwok; Editing by Stephen Coates

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