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Former Hang Yick Director Offers to Buy 13% Stake

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Hang Yick Holdings (HKG:1894) said former director Ngai Wa Ping has offered to buy a nearly 13% stake in the company for HK$18 million, according to a Thursday bourse filing.

The company said Ngai has offered to purchase 30 million shares at HK$0.60 apiece, reflecting a 3.4% premium to Wednesday's close, the last day of trading, as shares were suspended on Thursday.

Ngai already owns 2 million shares, which equates to about a 1% stake in Hang Yick.

Shares resumed trading on Friday and were nearly 1% down in recent trade.

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