Bank of Qingdao Co., Ltd. 青島銀行股份有限公司
Ariana Capital Investment Ltd buys 10.03% of Bank of Qingdao H-shares (3866.HK)
| Related filing
Disclosure of interest, 26-Jun-2020
Ariana fails to disclose the price. No shareholder of Ariana discloses a corresponding interest, but we know it is or was owned by Andrew Chiu Wah Wai. Mr Chiu is Vice Chairman of AMTD International Inc (NYSE:HKIB). The sellers were 2 wholly-owned subsidiaries of that company, which thereby cuts its holding to 12.76% of the H-shares. Update: the 2020 report of AMTD Intl discloses the sale price of $5.50/share, or HK$972.2m in total. In addition, $3.50 per share, totalling $618.7m, was paid by Ariana to settle a derivative amount due on the same shares, taking the price to $9.00, 80% above the current market price of $5.00.
Disclosure of interest, 26-Jun-2020
Ariana fails to disclose the price. No shareholder of Ariana discloses a corresponding interest, but we know it is or was owned by Andrew Chiu Wah Wai. Mr Chiu is Vice Chairman of AMTD International Inc (NYSE:HKIB). The sellers were 2 wholly-owned subsidiaries of that company, which thereby cuts its holding to 12.76% of the H-shares. Update: the 2020 report of AMTD Intl discloses the sale price of $5.50/share, or HK$972.2m in total. In addition, $3.50 per share, totalling $618.7m, was paid by Ariana to settle a derivative amount due on the same shares, taking the price to $9.00, 80% above the current market price of $5.00.
AMTD Holdings Ltd borrows 301.8m (17.12%) H-shares of Bank of Qingdao (3866) and pledges them to Guangzhou Rural Commercial Bank (1551)
| Pledgee filing
Disclosure of interest, 18-Sep-2017
The share-lender is a 100% subsidiary of AMTD Strategic Capital Group, which is indirectly 79.13% owned by AMTD Group Co Ltd, which is 71.03% owned by L.R. Capital Financial Holdings Ltd, which is 65.1% owned by AMT Holdings Ltd. 3 months earlier, AMTD Global Markets Ltd (then named AMTD Asset Management Ltd, a subsidiary of AMTD Group Co Ltd) was Financial Adviser in the IPO of GRC Bank. (Note: we believe AMTD Holdings Ltd was renamed L.R. Capital Holdings Ltd in 2018). At the market price of HK$6.33, the pledged shares are worth about HK$1.91bn.
Disclosure of interest, 18-Sep-2017
The share-lender is a 100% subsidiary of AMTD Strategic Capital Group, which is indirectly 79.13% owned by AMTD Group Co Ltd, which is 71.03% owned by L.R. Capital Financial Holdings Ltd, which is 65.1% owned by AMT Holdings Ltd. 3 months earlier, AMTD Global Markets Ltd (then named AMTD Asset Management Ltd, a subsidiary of AMTD Group Co Ltd) was Financial Adviser in the IPO of GRC Bank. (Note: we believe AMTD Holdings Ltd was renamed L.R. Capital Holdings Ltd in 2018). At the market price of HK$6.33, the pledged shares are worth about HK$1.91bn.
Hiding behind the cornerstones
Webb-site reveals that investors who took 31% of a bank IPO had secretly laid off their risk by issuing derivatives to a mainland property developer from the same city, via two HK-listed companies which incidentally are bubble stocks. When we complained, HKEX did not require disclosure of the bank’s identity, thereby preserving the secrecy behind the cornerstone investors which facilitate HKEX’s IPO business. Once again, the regulatory conflict of interest is exposed. (3-Oct-2016)
Webb-site reveals that investors who took 31% of a bank IPO had secretly laid off their risk by issuing derivatives to a mainland property developer from the same city, via two HK-listed companies which incidentally are bubble stocks. When we complained, HKEX did not require disclosure of the bank’s identity, thereby preserving the secrecy behind the cornerstone investors which facilitate HKEX’s IPO business. Once again, the regulatory conflict of interest is exposed. (3-Oct-2016)
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