Hutchison Telecommunications (Australia) (ASX:HTA) said that Hutchison Telecommunications (Amsterdam) B.V. (HTABV), an indirect subsidiary of CK Hutchison Holdings (HKG:0001), intends to make an off-market takeover bid for the shares in the company it does not already own, according to a Thursday filing with the Australian bourse.
The AU$0.032 per share cash offer represents a 52.4% premium to the company's last close, the filing said.
The bid is conditional on reaching 97% ownership, with no dividends declared or prescribed events occurring during the offer period, the filing added.
HTABV currently owns 87.87% of the company.
Shares of the company surged 52% in recent Thursday trade.
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