HK-listed Shun Ho Technology sells Magnificent Estates shares to Credit Suisse |
|
|
|
Published
:
Mon, 26 Feb 2007 05:20
|
HONG KONG (XFN-ASIA) - Shun Ho Technology Holdings Ltd said it raised about 118.70 mln hkd from the sale of 579 mln shares in Magnificent Estates Ltd to Credit Suisse.It said it sold the shares at 0.205 hkd each, representing a 3.2 pct discount to Magnificent Estates' average closing price of 0.2118 hkd for a month.The shares represent 10.6 pct of the issued share capital of Magnificent Estates.Following the sale, Shun Ho's stake in the real estate company will fall to 58.6 pct from 69.2 pct.The company said the sale represented an opportunity to realise some of its investment in Magnificent Estates. Proceeds from the sale will be used to beef up working capital and fund other investments, it said.At 11.57 am, Magnificent Estates was up 0.037 hkd or 15.23 pct at 0.28 while Shun Ho was down 0.02 hkd or 2.78 pct at 0.70.(1 usd = 7.8 hkd)leonora.walet@xfn.comlw/rc
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1449.80 |
+51.73 (
3.63 %)
|
| SYMBOL (
2008-12-02 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
1347.00 |
+51.00 (
4.02 %)
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
|
IBM
(
4:01pm ) |
|
79.84 |
+2.94 (
3.78 %)
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
|
GOOGLE
(
4:00pm ) |
|
275.11 |
+9.12 (
3.37 %)
|
|
|
Print this Story
Swiss shares AFX at a glance outlook 