January 12, 2018 / 1:30 AM / 2 years ago

HK's NWS says to sell $302 mln shares of Beijing Capital Int'l Airport

HONG KONG, Jan 12 (Reuters) - Hong Kong construction-to-transport group NWS Holdings Ltd said on Friday it would to sell HK$2.36 billion ($301.7 million) worth of Beijing Capital International Airport Co Ltd in a share sale, generating cash resources to fund other investment projects.

NWS, controlled by New World Development Co Ltd, has agreed to sell 208 million shares, or 11.07 percent of the H shares, of the Beijing Capital Airport operator at HK$11.35 per share. It represented a 7 percent discount to the previous close, according to Reuters calculations.

The Hong Kong-based company, which held 24 percent of the H shares of Beijing Capital International Airport prior to the share sale, said it expected to generate HK$800 million profit from the disposal.

J.P. Morgan Securities is the placing agent. ($1 = 7.8233 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Stephen Coates)

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