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SFAT, 18-Feb-2011
If you've ever wondered how some sponsors get to the required number of public shareholders for a listing, this ruling spells it out. 87 retail "clients" at the Wanchai Branch of ICEA Securities subscribed in the placing of Lang Chao (now Inspur, 0596) and then sold 8,712,000 shares for $0.005 more than the IPO price of $0.36 on the first day, to a company owned by the sponsor. The allotment results showed only 116 placees in total.
Organisations
- DAWNRAYS PHARMACEUTICAL (HOLDINGS) LIMITED 東瑞製葯(控股)有限公司
- ICEA CAPITAL LIMITED 工商東亞融資有限公司
- Inspur Digital Enterprise Technology Limited 浪潮數字企業技術有限公司
- Tung Shing Securities (Brokers) Limited 東盛證券(經紀)有限公司
People
- Ho, Richard Yan Ki 何炘基
- Sik, Gary Siu Kwan 薛兆坤
- Wu, Henry King Cheong 胡經昌
- Zhang, Xiaoming (SFC:AAE868) 張小明
Topics
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