SFC criticises Gao Yunhong and Feng Xuelian for breaches of the Takeovers Code | Executive Statement
SFC, 7-Apr-2022
They caused Steering Holdings Ltd (now FDB Holdings Ltd, 1826) to sell shares of CMBC Capital (1141) in "frustrating action" during an offer period triggered when Mr Ng Kin Siu acquired control of FDB from CMBC Capital Finance Ltd, which had enforced security over a loan to Mr Gao's holding company, Gentle Soar Ltd. We note that the CMBC shares were originally subscribed on 4-Jul-2018 using a loan from Gentle Soar, 5 weeks after Gentle Soar pledged its 70% holding in FDB to CMBC Capital Finance.

• Orgs
  • CMBC CAPITAL FINANCE LIMITED
  • CMBC Capital Holdings Limited
  • FDB Holdings Limited
  • Gentle Soar Limited
  • JET SPEED ASIA PACIFIC LIMITED
  • Masterveyor Holdings Limited
• People
  • Feng, Xuelian 馮雪蓮
  • Gao, Yunhong 高雲紅
• Topics
  • Takeovers