Shunfeng shares set to jump 12.6 pct after it wins bid to buy Suntech unit

Reuters

HONG KONG, Nov 4 (Reuters) - Shares of China's ShunfengPhotovoltaic International Ltd were set to jump 12.6percent on Monday after it said late on Friday it had agreed toby the main unit of Suntech Power for $492 million.

Reuters had reported in October, quoting two sources closeto the matter, that Shunfeng had signed a preliminary deal tobuy Wuxi Suntech Power Co.

The Hong Kong-listed shares of Shunfeng were set to open upnearly 13 percent at HK$6.00, outpacing a 0.3 percent gain forthe benchmark Hang Seng Index.

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