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 September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


MECNW Appoints New CEO

Terry Weston has been confirmed as Chief Executive of Maritime and Engineering College North West (MECNW) following the retirement of his predecessor, Jim Teasdale, at the end of September.

MacGregor's Deck Machinery for Sentinel Marine ERRV

MacGregor, part of Cargotec, will supply deck machinery for a new 65m emergency rescue & response vessel (ERRV) for Sentinel Marine. The ship has been designed

Maersk to Install Inmarsat's Entertainment Service

The leading provider of global mobile satellite communications services, today announced that Maersk Tankers, the owner and operator of one of the world’s largest fleets of product tankers,


Rolls-Royce to Cut More Staff of Marine Unit

Britain's Rolls-Royce said it would cut an additional 400 staff from its marine business by the end of next year, its latest move to make the unit more efficient

Wärtsilä Debuts Package for hydropower & industrial plant

Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals,

Smith Taken on Rolls-Royce Holdings Board

Rolls-Royce Holdings plc today announces the appointment of Sir Kevin Smith CBE as a Non-Executive Director.  Sir Kevin will join the Board with effect from

Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1181 sec (8 req/sec)