Shares in skincare chain L’Occitane International have jumped in trading on the Hong Kong Stock Exchange.
The global company confirmed on Friday that its controlling shareholder is contemplating a potential deal to take it private.
L’Occitane’s billionaire chairman Reinold Geiger already controls almost three quarters of its shares.
L’Occitane’s billionaire chairman Reinold Geiger already controls almost three quarters of its shares.
Trading in L’Occitane’s shares were halted on the Hong Kong Stock Exchange on Friday after Bloomberg News reported that Mr Geiger was in advanced talks to take it private.
The business news channel said that the potential deal could value the firm at around $6.5bn (£5.1bn), or as much as HK$35 ($4.47; £3.53) a share.
However, L’Occitane said in an exchange filing that reports that the buyout price could be that high were “false and without basis”, but if a deal did go through, the potential offer price would not be less than HK$26 a share.
Mr Geiger’s investment holding company, L’Occitane Groupe, owns more than 70% of the retailer.
L’Occitane’s shares were almost 10% higher at HK$28 in Monday afternoon trading in Hong Kong.
Shares in skincare chain L’Occitane International have jumped in trading on the Hong Kong Stock Exchange.
L’Occitane’s billionaire chairman Reinold Geiger already controls almost three quarters of its shares.
The global company confirmed on Friday that its controlling shareholder is contemplating a potential deal to take it private.
Trading in L’Occitane’s shares were halted on the Hong Kong Stock Exchange on Friday after Bloomberg News reported that Mr Geiger was in advanced talks to take it private.
L’Occitane’s billionaire chairman Reinold Geiger already controls almost three quarters of its shares.
L’Occitane’s billionaire chairman Reinold Geiger already controls almost three quarters of its shares.
Trading in L’Occitane’s shares were halted on the Hong Kong Stock Exchange on Friday after Bloomberg News reported that Mr Geiger was in advanced talks to take it private.
The business news channel said that the potential deal could value the firm at around $6.5bn (£5.1bn), or as much as HK$35 ($4.47; £3.53) a share.
However, L’Occitane said in an exchange filing that reports that the buyout price could be that high were “false and without basis”, but if a deal did go through, the potential offer price would not be less than HK$26 a share.
Mr Geiger’s investment holding company, L’Occitane Groupe, owns more than 70% of the retailer.
L’Occitane’s shares were almost 10% higher at HK$28 in Monday afternoon trading in Hong Kong.
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