Property News · February 27, 2020

Billionaire Peter Woo to take Wheelock private, handing HK$16.5 billion value windfall to shareholders


Hong Kong billionaire Peter Woo Kwong-ching is taking his flagship Wheelock & Co property empire private through a two-step transaction, handing investors a HK$16.5 billion (US$2.1 billion) windfall. Its shares jumped to an all-time high. Wheelock will distribute its equity holdings in the two Wharf entities had a combined market value of HK$123.7 billion based on their stock prices before trading was halted on Monday for the announcement, before a take-private offer from the tycoon. That…

Source : South China Morning Post
Read more…Billionaire Peter Woo to take Wheelock private, handing HK.5 billion value windfall to shareholders

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