Joyce Boutique shares vault on privatization planBusiness | 13 Dec 2019 3:10 pm
Shares of Hong Kong luxury fashion retailer Joyce Boutique (0647) under the Wheelock and Company (0020) surged by 81.51 percent to HK$0.26 as of 1:30 pm after it announced a privatization plan at a price of HK$0.28 per share and resumed trading today.
The offer price was 91.78 percent higher than the closing price last Friday.
The offeror holds 74.9 percent of the company's issued share capital while independent shareholders hold 25.1 percent. The cancellation price will not be increased and the offeror does not reserve the right to do so, said the company.