Offer to buy shares

2008-12-23 | NEWSPAPER EDITION

SHAW Brothers (Hong Kong) Ltd said its largest stockholder has made a HK$1.33-billion (US$172 million) offer to buy the shares in the firm it doesn't already own.

A trust controlled by Shaw Chairman Sir Run Run Shaw that owns 74.9 percent of the firm will offer HK$13.35 in cash for each remaining Shaw Brothers share, a filing to Hong Kong's stock exchange said yesterday. Shaw Brothers will resume trading in Hong Kong today.

Nothing definite

SHAW Brothers (Hong Kong) Ltd, controlled by movie producer Sir Run Run Shaw, said there's no "substantial development" in talks that may result in the 100-year-old chairman selling his stake in the company. Media...