Wah Kwong Goes Private

Thursday, July 13, 2000
Wah Kwong Shippping Holdings said its shareholders approved a joint HK$50 million buy-out bid from Belgium's Compagnie Maritime Belge SA (CMB) and Wah Kwong president George Chao. Company shares will resume trading in Hong Kong on Wednesday. The last day of trading for Wah Kwong shares in London is July 21, and July 24 for Hong Kong. Delisting is scheduled for July 26.

The joint offer from CMB and Chao was made at HK$5.65 per share, to acquire 57.7 percent of Wah Kwong shares. CMB's Bocimar Far East Holdings unit owned 27.1 percent of the company, whilst Chao held a 15.2 percent stake. Wah Kwong shares closed at HK$5.50 on Tuesday. The company is engaged in the transport of bulk cargo such as coal and iron ore.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

EU Regs on Ship CO2 Reporting Complicates IMO Agreement

ICS Concerned that EU will Preempt IMO CO2 Negotiations.   The global trade association for shipowners – the International Chamber of Shipping (ICS) – is disappointed

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Finance

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Asian Airlines Pause Before Hedging on Fuel

Oil fell to four-year low of $72 on Thursday; Airlines hope the price will slip below $70 a barrel. Airlines in Asia-Pacific are holding off from hedging their

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1342 sec (7 req/sec)