Sale of 40pc stake in Righteous sparks cash offer for shares

PUBLISHED : Friday, 16 January, 1998, 12:00am
UPDATED : Friday, 16 January, 1998, 12:00am

A cash offer is to be made for shares in luxury goods retailer Righteous (Holdings) at 23.4 cents per share by Always Full Investment, which is equally owned by Chan Kar-leung and his wife Leung Sau-lai. Righteous said the sale of its major shareholder Goldbells' 40 per cent stake in Righteous to Always Full had been completed, triggering a mandatory cash offer. The offer document will be dispatched on or before January 19.