South China Industries plans general offer on subsidiary

Diversified group South China Industries (SC Industries) has confirmed it will launch a general offer for subsidiary South China Strategic (SC Strategic) at 20 cents a share, valuing the company at $136.1 million. SC Industries bought 11.08 per cent of SC Strategic on May 26 at the same price after buying another 4.97 per cent stake of the firm during the 12 months to that day.