Thelloy Development Chairman Completes Sale of Controlling Stake

MT Newswires Live

02/13

Thelloy Development Group (HKG:1546) said a previously announced change in ownership transaction was completed, according to a Hong Kong bourse filing Thursday.

The firm's chairman Lam Kin Wing Eddie sold 500.8 million shares representing 62.6% of the company's issued share capital to World Nexus at HK$0.19 per share, or about HK$95.2 million.

The sale triggers a mandatory unconditional cash offer and the firm said the despatch of the composite document by the offeror and the company is expected by March 20.

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