Stock up 40% now. Be careful if u wanna chase. Talk is cheap ....
DJ Bossini: Controlling Hldr In Talks To Sell His Stake In Co
HONG KONG (Dow Jones)--Fashion retailer Bossini International Holdings Ltd. (0592.HK) said Tuesday its chairman, Law Ka Sing, is in talks with an unnamed party to sell his controlling stake in the company.
The Hong Kong-based mass market apparel firm said Law, who owns 68.58% of the company's issued share capital, is still in discussions over the terms of the potential deal with the investor and hasn't reached any agreement.
If the deal does materialize, the new investor will need to make a mandatory general offer for all the shares not already owned as required by Hong Kong Stock Exchange regulations.
Bossini's shares were suspended from trading at 0630 GMT Monday pending the release of the announcement. The company said it plans to resume trading Tuesday.
Bossini's market capitalization stands at HK$565.84 million, and is considerably smaller than some of its local fashion retailer rivals. Blue-chip Esprit Holdings Ltd.'s (0330.HK) market capitalization is HK$71.27 billion, while Giordano International Ltd.'s (0709.HK) is HK$3.34 billion