BOCOM International Holdings Company Limited 交銀國際控股有限公司

Neither of the two IPOs proceeded. The SFAT Determination provides interesting insight into events at BOCOM International (3329) before its own listing in 2017.

This partly concerns the activities of a former representative, "Mr X", who Webb-site can deduce is Mr Yeung Kei Sho.

BOCOM says the US$210m fund will make indirect investment in an unnamed PRC residential and commercial property company. We can tell you this is 51% of Chongqing OCT Real Estate Ltd. The fund bought it from OCT (3366) which retains 49% and owns 35% of the fund manager. BOCOM is providing US$100m of fixed-return second-tier funding at 8% p.a., ranking behind the US$60m A1 tier.

We note that BOCOM International Holdings Co Ltd itself has filed a listing aplication proof on 17-Jan-2017. Its sponsors include its subsidiary. Up to last night, the average 1-year Webb-site Total Return of BIAL's 17 sponsorships was -18.94%, or -21.15% relative to the market.

The new petitioner is a subsidiary of Sun Hung Kai & Co. Ltd (0086). The previous one is a subsidiary of Bank of Communications Co Ltd (3328). The controlling shareholder is or was owned by Mr Huang Xian You, who was never on the board of the listed company.