HONG KONG (Reuters) - Shares of Hong Kong-listed handbag retailer Milan Station Holdings Ltd (1150.HK) were set to surge 50 percent on Thursday after the company said its controlling shareholder was in talks over a possible stake sale.
“Perfect One is in a preliminary discussion with an independent third party not connected with the company ... which raises the possibility of an acquisition of interests in the shares of the company,” Milan Station said in a filing to the Hong Kong Stock Exchange late on Wednesday.
Perfect One Enterprises Ltd currently holds roughly 72.29 percent of Milan Station shares.
Milan Station has a market value of $52.2 million.
Reporting by Clare Baldwin and Donny Kwok; Editing by Anne Marie Roantree