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Enerchina (0622) buys 1.5bn shares (5.58%) of Mascotte (0136) for HK$210m
Disclosure of interest, 14-Jan-2015
This is an off-market transaction and increases its stake to 9.51%. The 5-day average market cap of Enerchina before the purchase was $1432m, so the "consideration ratio" is 14.7% and this should be a Disclosable Transaction under the Listing Rules. Enerchina has not made any announcement. In our view, Enerchina has just bought into the Mascotte bubble.
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