Hong Kong, Aug 26 - Chinese supermarket chain Times Ltd said late on Tuesday it had invited a number of potential bidders to make a strategic review that could lead to a general offer for the retailer.
Initial expressions of interest have been received from certain parties and the strategic review process was ongoing, the company said in a statement, without giving further details.
The Hongkong and Shanghai Banking Corp Ltd is the financial adviser in the strategic review.
CS International Investment, the controlling shareholder of the company, owns 72.29 percent of the retailer, Times said.
The Wall Street Journal, citing people familiar with the situation, reported that the Times' majority shareholder had invited bidders, including Wumart Stores and Lianhua Supermarket, to make offers.
Times shares rose 11.7 percent to HK$4.19 prior to a trading suspension on Tuesday afternoon. Trading in the shares will resume on Wednesday. (US$1=HK$7.75)