Jiang, Howard Qi Hang 江啟航

Bubbles and troubles in Hong Kong
Pour yourself a coffee and digest this long article as we investigate several ongoing abusive "open offers" and placings as well as show you who's been making out in multi-billion-dollar bubbles. We call on regulators and rule-makers to take action. (24-Sep-2015)
Blowing the whistle on Sinoref (1020)
The latest deal deserves attention from the SFC's corporate misconduct team. We also find improbably high profit margins which have now collapsed, a big receivables problem, and two changes of board, the latest after a character from our 2012 "Raking Muck" series reappears. (12-Nov-2014)
Raking muck, Part 6
Concluding our hexalogy, we look at a recent deal by COMG (0254). Existing shareholders were diluted to 2.54% in an acquisition valued at HK$1242m for a business which would need capital of HK$3.6m. We estimate that the vendor has already cashed in about $1812m by selling convertible bonds and shares. We also look at what comes next for COMG, and some unfinished business for the authorities. (11-Mar-2012)
China Outdoor Media buys GMG Media Group Ltd from Jiang Qi Hang for HK$1242mCircular
Company announcement, 28-Dec-2009
Of which HK$13m in 100m shares @$0.13 (34.3% discount) and HK$1229m in 0% convertible bonds convertible @$0.13. The target had net liabilities of $9,000 at 31-Dec-2009. The PRC Company was set up on 11-Apr-2008 and had net assets of HK$1.93m at 31-Dec-2009 and 1 employee. Neither has commenced business.

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