NWS Holdings to gain HK$800m from stake sale in Beijing airport

Business | 12 Jan 2018 4:02 pm

NWS Holdings (0659) announced today it will book a profit of HK$800m by selling 208 million H shares the company holds in Beijing Capital International Airport Co.

The shares will be disposed at HK$11.35 per share and they represent 11.07 percent of the total issued H shares of BCIA, held by the company.

Chairman Dr Henry Cheng kar-shun, (pictured), said the disposal "is a good opportunity to realize its long-term investment in the H shares of BCIA.'' The company can generate generate cash to fund its general working capital as well as other investment projects, he added.

Through Fortland Ventures, a subsidiary, NWS Holdings held 448,342,000 H shares of BCIA,

representing a 23.86 percent interest.

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