Continuing our series, we look at a set of over-priced acquisitions and questionable transactions by China Post e-Commerce and others, building a matrix which demonstrates the close connections between the persons involved. We call on the SFC to investigate.
機構
人物
Eternite (8351) launches top-up placing of 72m shares @$0.28 via Cheong Lee Securities Ltd, grants options to Galaxy Capital Ltd
Company announcement, 08-Apr-2010
The placing shares are 15% of the existing share capital at an 18.4% discount. The deal raises $19.6m net. Simultaneously Eternite grants options to subscribe 24m shares (equal to 5% of the existing shares) to Galaxy Capital Ltd, for services. 53m of the placing shares go to funds advised by Galaxy Asset Management (H.K.) Ltd. The placing comes on the first possible day under the Listing Rules, exactly 6 months after listing on 7-Oct-2009.
機構
Inno-Tech (8202) issues shares to 4 subscribers and signs consultancy agreement with Galaxy Capital Ltd
Company announcement, 14-Jan-2010
They are Galaxy China Special Situation Fund SPC for 34.5m shares (6.76%), Galaxy China Deep Value Fund for 65m shares (3.16%), Cheever Capital Management (Asia) Ltd for 20.8m shares (3.44%), and Chen Zhi Cheng for 22,465,427 shares (3.71%). The issue is at a 19.7% discount to market. The Consultant would get 10.74% of Inno-Tech on completion of acquisition of a target identified by the Consultant.