Shaw Holdings, controlled by Mr Shaw, will pay HK$13.35 per share for all the Shaw Brothers shares it does not own, the company said in a statement to the Hong Kong stock exchange late on Monday.

Entertainment conglomerate Shaw Brothers' major asset is its 26 per cent stake in the city's dominant terrestrial TV broadcaster, Television Broadcasts Ltd (TVB).

The offer price represents a 64 per cent premium to the stock's last close of HK$8.13 on Dec 12, its last day of trading before it was suspended. The stock will resume trading on Tuesday.

Shaw Brothers' market value has fallen more than 67 per cent from its peak in June to HK$3.2 billion on Dec 12 after hopes to sell Shaw's controlling stake in the company were dashed amid the global financial crisis.

Mr Shaw, the centenarian tycoon who helped fund Blade Runner, owns about 75 per cent of Shaw Brothers and also personally holds a 6.5 per cent interest in TVB.

Shaw Brothers hit a record high of HK$24.30 on June 25, boosted by reports that Mr Shaw planned to sell his stake to Mr Yeung Kwok-keung, Chairman of Chinese property developer Country Garden Holdings .

But Shaw Brothers said in October that talks by Shaw Holdings to sell its stake in the firm had ended due to the tumultuous situation in the financial markets.

In May 2007, talk that Mr Shaw may sell his slice of the entertainment giant ahead of his 100th birthday in October lifted its shares as much as 32 per cent in two days. -- REUTERS