NOTING that Pacific Century Regional Developments (PCRD) was "reducing its free float rapidly" and appeared to be headed for privatisation, an institutional investor has called for a "truly fair" offer to be made to minority shareholders in the event of a delisting.
The call comes as vehicles controlled by Richard Li, son of Hong Kong tycoon Li Ka-shing, saw their stakes in the mainboard-listed investment holding group move close to the 90 per cent delisting threshold. PRCD are now also hovering at a near 13-year high.
But there appears to be no certainty of a privatisation. PCRD, responding on May 2 to an article in BT in April ("Pacific Century headed for delisting"), had said: "The...