Reuters: Hot Stocks: Chong Hing shares surge after receiving takeover approach

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Chong Hing shares surge after receiving takeover approach Aug 8th 2013, 01:41 HONG KONG | Wed Aug 7, 2013 9:41pm EDT HONG KONG Aug 8 (Reuters) - Shares in Hong Kong's Chong Hing Bank Ltd surged 21.6 percent on Thursday after the company said its controlling shareholder Liu Chong Hing Investment Ltd received a takeover approach from unidentified third parties. On Wednesday, Chong Hing Bank and Liu Chong Hing Investment had suspended trading in their shares pending an announcement. Liu Chong Hing Investment, which owns a 50.2 percent stake in Chong Hing Bank, jumped 23 percent when trading resumed on Thursday. Chong Hing and Liu Chong Hing Investment said in a joint statement to the Hong Kong stock exchange late on Wednesday that no agreement has yet been reached. (Reporting by Denny Thomas and Donny Kwok; Editing by Edwina Gibbs)

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