Guoco bought back 10-25 pct of shares at HK$46-51 each in general offer

Guoco Group Ltd (0053) said it is proposing to buy back up to 10-25 pct of its shares at between 46-51 hkd per share in a general offer. In a statement, the company said Morgan Stanley Dean Witter Asia Ltd will undertake the repurchase of up to 43 mln shares or 10 pct of the company's total issued shares. All shares will be bought back at a single strike price within the price range set. The general offer will cost the company between 1.978-5.457 bln hkd. Guoco shares were last traded at 47.10 hkd.

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