NWS sells shares worth HK$423m in Wai Kee

Business | 7 Apr 2021 2:39 pm

NWS (0659) announced it will sell 91.13 million shares of Wai Kee (0610) to Wai Kee's controlling shareholders for HK$423 million.

Wai Kee is a Hong Kong-based company engaged in the construction and materials businesses.

Willam Zen Weipao and Zen Weipeu plan to buy the shares at HK$4.64 each, a 10.2 percent premium compared with the closing price of the last trading day.

After the transaction, the shareholding of NWS will drop to 11.49 percent from 22.98 percent. Willam Zen's shareholding will rise to 31.68 percent from 25.96 percent. Zen Weipeu's shareholding will rise to 31.45 percent from 25.7 percent.

NWS is expected to book a gain of about HK$60 million.



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