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Company announcement, 14-Apr-2023
CSE valued its 1.71% stake of Seekers Partners Ltd at 31-Dec-2021 at HK$0.04 per share or $1.126m, but on the same date, Shandong Hi-Speed (0412) valued its 2.91% stake at $4.396 per share ($211m), after a 25% discount for lack of marketability, and Touyun Biotech (1332) valued its 0.55% stake at $27m ($2.96 per share). CSE says it couldn't attract buyers because all 3 investees refused to provide financial data - to which SHS and Touyun apparently had access. Similar gross disparities apply to the stake in FreeOpt Holdings Ltd. In the end, CSE sold all 3 to Mr Au Yeung Kai Chor in order to finalise their overdue audited accounts and resume trading.
Organisations
- Acclime Corporate Advisory (Hong Kong) Limited 凱晉企業顧問有限公司
- China Smarter Energy Group Holdings Limited 中國智慧能源集團控股有限公司
- FreeOpt Holdings Limited
- Freewill Holdings Limited (MH)
- Seekers Partners Limited
- SHANDONG HI-SPEED HOLDINGS GROUP LIMITED 山高控股集團有限公司
- Touyun Biotech Group Limited 透雲生物科技集團有限公司
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