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Tack Hsin proposes acquisition for HK$120m plus 100m warrants exercisable at $1.20
Company announcement, 23-Dec-2010
The target will own 15% of a pipe maker. The warrants are exercisable at a 61.66% discount to the market price of $3.13, so they have an intrinsic value of $193m, making a total purchase price of at least $313m. The pro rata share of underlying net profits is only RMB3.66m. The owner of the BVI vendor is not disclosed.
Organisations
- China Nuclear Energy Technology Corporation Limited 中國核能科技集團有限公司
- EAST KING INTERNATIONAL ENTERPRISES LIMITED 東僑國際企業有限公司
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