Wing Lung Bk jumps after report on sale of control

HONG KONG, Feb 13 (Reuters) - Shares of Wing Lung Bank (0096.HK: Quote, Profile, Research, Stock Buzz) jumped as much as 10 percent on Wednesday after a media report said its controlling shareholder may sell the bank to a Hong Kong-listed mainland Chinese bank.

Ming Pao daily news quoted industry sources as saying the controlling shareholder was likely to finalise a deal to sell control to a Chinese bank and one of the potential buyers was China Construction Bank (0939.HK: Quote, Profile, Research, Stock Buzz).

The Wu family, which owns 62 percent of Wing Lung, aimed to sell the bank at a price equal to 3 times its book value, the newspaper said.

Shares of Wing Lung stood at HK$97.15 at 0216 GMT, up 9 percent, while China Construction Bank gained 1.3 percent, in line with a rise in the benchmark index .HSI. (US$1=HK$7.8) (Reporting by Donny Kwok; Editing by Anne Marie Roantree)