ITC raises stake in Louis XIII Holdings

Hong Kong’s ITC Properties Group Ltd has increased its stake in Louis XIII Holdings Ltd, the prospective operator of a Macau resort, by another 6.3 per cent. ITC paid HK$95.12 million (US$12.27 million) for a total of 28.2954 million shares, equivalent to an average price of $3.363 per acquired share. Upon acquisition, the group held an aggregate 47,4852 million shares of Louis XIII, accounting for 16.9 percent of the share capital.

ITC Properties told the Hong Kong Stock Exchange that the purchase had increased its stake in Louis XIII Holdings to 16.9 percent, and that it might increase its stake further.

Louis XIII Holdings has a project to build a hotel and entertainment complex in Cotai.

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