In this article
China Vanguard's Grand Promise
China Vanguard (8156) bought an asset from its controlling shareholder at 6.5 times the price at which China Motion (0989) turned it down. Now it is struggling to redeem convertible bonds the target issued to Goldman Sachs and Evolution Capital. We also query a year-end HK$139m cash outflow to buy a company which was once owned by the controlling shareholder, with negative net assets. Finally we look at a pending acquisition by Aptus, its subsidiary.
- Celebrate International Holdings Limited
- Evo Capital Management Asia Limited
- Evolution Capital Management LLC
- GOLDMAN SACHS (ASIA) L.L.C.
- Ground International Development Limited
- Sinopharm Tech Holdings Limited