SCMP's shares rise 2.3 pct amid acquisition talks
By David Lee
Feb 18, 2013 09:20 PM EST
Regions
Shares of SCMP Group, the publisher of the South China Morning Post, were set to open 2.3 percent higher in resumed trade on Tuesday after it said it was in talks regarding the possible acquisition of a group of media companies.
The company said in a filing after the market closed on Monday that it was in negotiations with third parties, almost four hours after its shares surged as much as 31 percent with no immediate reason given for the jump.
The stock was set to open at HK$2.20, outpacing a 0.1 percent gain in the benchmark Hang Seng Index.
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