China Minsheng Fin (0245) lends HK$250m to someone secured on something | Disclosure of interest
Company announcement, 21-Nov-2016
The Borrower is incorporated in HK. Its shareholder and personal guarantor is a PRC resident. The loan is secured on 220m shares of a HK-listed company. Subsequent disclosures of interest shows that to be a 55% stake in Gold-Finance (1462) and the Borrower is Gold-Finance (Hong Kong) Asset Management Ltd, controlled by Wei Jie, the Chairman of Gold-Finance.

• Orgs
  • China Vered Financial Holding Corporation Limited
  • Gold-Finance (Hong Kong) Asset Management Limited
• People
  • Wei, Jie (1981) 韋杰

Concentration warning in Gold-Finance (1462)
SFC, 4-Oct-2016
Comment: net tangible assets at 31-Mar-2016 were $0.635/share, and EPS was $0.0481, so at today's closing price of $12.56, the stock is at 19.8x NTA and the P/E ratio is 261.

• Topics
  • Bubble/concentration warnings