US move on Top Form

AMERICAN intimate apparel manufacturer Bestform Foundations has acquired about 9.88 per cent, or 66 million shares, of the issued capital in Hong Kong listed lingerie-maker Top Form International.

The transaction represents a substantial premium to the market, though the exact figures were not revealed in the announcement released yesterday.

The sellers are the three principal shareholders, Frank Lo, Eddie Wong and Ludovicus Fransen, who will retain a 52.27 per cent holding in the company.