Great China Properties Holdings Limited 大中華地產控股有限公司
Waytung Global (0021) sells subsidiary with Hennabun stake for HK$10k
Company announcement, 29-Dec-2010
The purchaser is a BVI company, the owner of which is not disclosed. This vehicle held a stake in Hennabun Capital Group Ltd, for which the group originally paid HK$59m in 2003. We calculate that by the time of this disposal, the original stake of 32,000,000 shares had been consolidated into 320,000 shares and diluted to 0.15%, not 0.23% as stated.
Company announcement, 29-Dec-2010
The purchaser is a BVI company, the owner of which is not disclosed. This vehicle held a stake in Hennabun Capital Group Ltd, for which the group originally paid HK$59m in 2003. We calculate that by the time of this disposal, the original stake of 32,000,000 shares had been consolidated into 320,000 shares and diluted to 0.15%, not 0.23% as stated.
China Strategic bubble
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
HK's Takeunder Code
Three recent "takeunders" of Beauforte Investors, China Internet Global Alliance and Tung Fong Hung have reminded investors how ineffective Hong Kong's takeover code is. In each case, a buyer has been willing to pay a substantial premium for a stake which, while under 35%, is clearly enough to achieve control without making a general offer. Webb-site.com urges the SFC to reduce the threshold for these "takeunder" transactions. (18-Dec-2000)
Three recent "takeunders" of Beauforte Investors, China Internet Global Alliance and Tung Fong Hung have reminded investors how ineffective Hong Kong's takeover code is. In each case, a buyer has been willing to pay a substantial premium for a stake which, while under 35%, is clearly enough to achieve control without making a general offer. Webb-site.com urges the SFC to reduce the threshold for these "takeunder" transactions. (18-Dec-2000)
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy