Ticker	Volume	Price	Price Delta
DJIA	15,335.30	-19.12	-0.12%
S&P 500	1,666.29	-1.18	-0.07%
Nasdaq	3,496.43	-2.53	-0.07%

Ticker

Volume

Price

Price Delta

DJIA

15,335.30

-19.12

-0.12%

S&P 500

1,666.29

-1.18

-0.07%

Nasdaq

3,496.43

-2.53

-0.07%

Ticker	Volume	Price	Price Delta
STOXX 50	2,824.50	+6.51	0.23%
FTSE 100	6,755.63	+32.57	0.48%
DAX	8,455.83	+57.83	0.69%

Ticker

Volume

Price

Price Delta

STOXX 50

2,824.50

+6.51

0.23%

FTSE 100

6,755.63

+32.57

0.48%

DAX

8,455.83

+57.83

0.69%

Ticker	Volume	Price	Price Delta
Nikkei	15,309.50	-51.33	-0.33%
Hang Seng	23,389.10	-103.96	-0.44%
S&P/ASX 200	5,182.20	-26.84	-0.52%

Ticker

Volume

Price

Price Delta

Nikkei

15,309.50

-51.33

-0.33%

Hang Seng

23,389.10

-103.96

-0.44%

S&P/ASX 200

5,182.20

-26.84

-0.52%

Far East Global Rises by Record on CSC Buyout: Hong Kong Mover

By Sandi Liu - 2012-02-03T08:22:49Z

Far East Global Group Ltd. (830) almost doubled in Hong Kong trading after China State Construction International Holdings Ltd. (3311) offered to boost its stake to take control of the Hong Kong-based curtain-wall systems maker.

Far East Global, which resumed trading today after being suspended on Nov. 15, rose 92 percent, the largest gain since the stock debuted in Hong Kong on Mar. 30, 2010, to HK$1.13 by the close of trading on the city’s bourse.

China State Construction International, a Hong Kong-based unit of the state-owned China State Construction Engineering Corporation Ltd. (601668), plans to expand overseas as the nation’s property market cools on government curbs.

Far East Global “will provide an international platform which allows the company to seek investment opportunities throughout the international markets,” China State Construction International said in a statement posted to the Hong Kong stock exchange yesterday.

The construction company is offering to buy 1.04 billion new shares to boost its stake in Far East Global to 51 percent, or 53 percent if all outstanding share options are not exercised, according to the statement. It will pay HK$1.18 in cash for each existing share, it said.

China State Construction International has no intention of privatizing Far East Global and its shares will remain listed on the Hong Kong stock exchange after the transaction, it said.

To contact the reporter on this story: Sandi Liu in Hong Kong at sliu60@bloomberg.net

To contact the editor responsible for this story: Gregory Turk at gturk2@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.