NWS Holdings to gain HK$800m from stake sale in Beijing airportBusiness | 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.