SHAW Brothers (Hong Kong) Ltd rose by a record in Hong Kong trading after its largest stockholder made a HK$1.33 billion (US$172 million) offer to buy out the company.

Shaw Brothers climbed 56 percent to close at HK$12.68 on the city's stock exchange, the biggest gain since March 1990. The stock resumed trading yesterday after being suspended on December 15, Bloomberg News said.

A trust controlled by 101-year-old Chairman Sir Run Run Shaw, now holding 74.9 percent of Shaw Brothers stock, will offer HK$13.35 in cash for each remaining share, according to a company filing to Hong Kong's stock exchange.

The stock had declined 65 percent from a record in June before it resumed trading. That month the Chairman ended talks to sell his stake in the film company. Shaw Brothers has a controlling 26 percent holding in Television Broadcasts Ltd, operator of Hong Kong's dominant TV station.