HK's Baltrans shares jump on buy-out offer

HONG KONG, Dec 20 (Reuters) - Shares in Hong Kong freight firm Baltrans Holdings 0562.HK jumped 40 percent to a record high on Thursday after Australia's Toll Holdings Ltd (TOL.AX: Quote, Profile, Research, Stock Buzz) said it had offered to buy the company.

Toll is offering HK$7.60 a share, rising to HK$7.75 a share -- which would value Baltrans at about US$313 million -- if it gets 90 percent acceptance. Baltrans' founding shareholders, who control about 44 percent of the issued equity, have accepted the offer, Toll said on Thursday.

By 0201 GMT, Baltrans shares were trading at HK$7.61, up 40.93 percent on the day.

(Reporting by Dominic Whiting; Editing by Anne Marie Roantree;