An investment vehicle owned by the family of billionaire Henry Cheng Kar Shun, Hong Kong’s third-richest individual, is seeking to take control of one of the city’s biggest apparel retailers in a deal worth as much as HK$2.56 billion .
Giordano’s shares soared 15.7 per cent to HK$1.84, its largest jump since Aug 2011, after trading resumed on Friday.The Cheng family, which controls New World Development and Chow Tai Fook Jewellery Group, intends to retain Giordano’s existing business and its employees and key assets, before reviewing its structure and operation to strengthen its business, according to the filing.
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