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Tycoon’s daughter to control HK paper
BIGGEST SHAREHOLDER: The sale would make Sing Tao News the latest Hong Kong media company to be taken over by people with links to mainland Chinese groups
Bloomberg
Kwok Hiu-ting (郭曉亭), daughter of the Kaisa Group Holdings Ltd (佳兆業集團) chairman, has agreed to buy a controlling stake in major Hong Kong media firm Sing Tao News Corp (星島新聞集團) for about HK$370 million (US$47.73 million).
Sing Tao chairman Charles Ho (何柱國) has agreed to sell 246.6 million shares at HK$1.5 each to Kwok, according to a filing with the Hong Kong Stock Exchange yesterday.
The price represents a 65 percent premium to Sing Tao’s last close of HK$0.91 on Thursday last week before a trading halt.