FORTUNE FINANCIAL CAPITAL LIMITED 富強金融資本有限公司
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)
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)
Raking muck, Part 1
In the first of a multi-part series, we delve into a transaction by the HK offshoot of Xinhua, the PRC's official news agency, and the people behind it. (21-Feb-2012)
In the first of a multi-part series, we delve into a transaction by the HK offshoot of Xinhua, the PRC's official news agency, and the people behind it. (21-Feb-2012)
Capital VC (2324) and Longlife (8037)
Our analysis shows that a general offer may have been triggered for Longlife and possibly for Capital VC too. We look at the close relationship between the two and the people involved. We also ask how a person could continue to act as director of a valuer, issuing valuation opinions for numerous listed companies, without disclosing that he was bankrupt at the time. (14-Aug-2011)
Our analysis shows that a general offer may have been triggered for Longlife and possibly for Capital VC too. We look at the close relationship between the two and the people involved. We also ask how a person could continue to act as director of a valuer, issuing valuation opinions for numerous listed companies, without disclosing that he was bankrupt at the time. (14-Aug-2011)
Tsun Yip (8356) buys 17% of China New Media (HK) Co Ltd from Vicky Yu Wai Yin
Company announcement, 29-Jul-2011
For HK$70.04m of which $25m in cash and $45.04m in promissory notes. This follows the earlier purchase of 19% by Inno-Tech (0254) and the purchase 3 days ago of 7% by China Railsmedia (0745). The target is 51% owned by China Outdoor Media (8202). Its valuation is still claimed at $412m despite being loss-making and having negative net assets of $1m.
Company announcement, 29-Jul-2011
For HK$70.04m of which $25m in cash and $45.04m in promissory notes. This follows the earlier purchase of 19% by Inno-Tech (0254) and the purchase 3 days ago of 7% by China Railsmedia (0745). The target is 51% owned by China Outdoor Media (8202). Its valuation is still claimed at $412m despite being loss-making and having negative net assets of $1m.
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