Hong Kong's NWS Holdings saw its shares rise 10 per cent on Tuesday after it said a unit of conglomerate Chow Tai Fook had offered to buy about 97 per cent of the construction firm's stock in a deal worth up to HK$35.5 billion ($4.53 billion).The HK$9.15 per-share offer represents a premium of 14.5 per ce
Hong Kong's NWS Holdings saw its shares rise 10 per cent on Tuesday after it said a unit of conglomerate Chow Tai Fook had offered to buy about 97 per cent of the construction firm's stock in a deal worth up to HK$35.5 billion .
NWS, a subsidiary of New World Development , is an investment holding company that operates a range of businesses predominantly in Hong Kong and mainland China. Its core business includes construction, toll roads and insurance. Century Acquisition's immediate owner, Chow Tai Fook Enterprises, currently owns 2.5 per cent of NWS. Chow Tai Fook Nominee owns 0.56 per cent.
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