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Hong Kong's Li & Fung shareholder to sell up to 1.49 bln hkd stake - term sheet


Published : Thu, 29 Mar 2007 12:43
By : Agencies
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HONG KONG (XFN-ASIA) - A shareholder of Li & Fung Ltd has agreed to sell up to 1.49 bln hkd worth of shares in the company, according to a term sheet.

The shareholder is selling 61.88 mln shares at 23.3-24.0 hkd each, representing a discount of 2.04-4.9 pct to the company's closing price of 24.50 hkd today, the term sheet said.

Citigroup is arranging the sale.

roby.lau@xfn.com

rl/net

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