TAN CHONG INT'L sells Subaru shares, realizing 116 million yuan

TAN CHONG INT'L (00693.HK) announced that during the twelve-month period ending September 19, it sold a total of 708,100 shares of the Tokyo-listed company Subaru in the open market for a total price of 2.196 billion yen (approximately HKD 116 million). The estimated proceeds from the sale are about HKD 18.5 million.

At the same time, it sold call options to Nomura Singapore (which can be exercised on the corresponding expiration date to purchase the Subaru shares held by its wholly-owned subsidiary Redcliffe Investments), with a total premium of 57.8 million yen