By  on March 21, 2018

HONG KONG — Shares of Lifestyle International and Lifestyle China, which operate department stores across greater China surged on Wednesday, following the announcement that the Qatar Investment Authority is seeking $662 million to offload its stake.

The Hong Kong-listed Lifestyle International, which owns the Sogo chain, rose 3.69 percent in Wednesday morning trading while its spinoff Lifestyle China, which has a portfolio of department stores under the name Jiuguang in mainland China, leapt 17.34 percent. That compared with a 1.1 percent gain in the benchmark Hang Seng Index.

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