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2008-4-3 10:33:00 a.m. HKT, XFNA
HK-listed Wing Hing Intl to acquire mining asset in China for 400 mln hkd
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HONG KONG (XFN-ASIA) - Wing Hing International (Holdings) Ltd said it plans to
acquire 70 pct stake in Union Sense Development Ltd, a company principally
engaged in mining business in China, for 400 mln hkd.
The stake will be acquired from an individual named Cheung Oi Chun.
Wing Hing will pay for the acquisition in cash, or through the issue of
convertible notes or new shares, the construction engineering firm said.
Separately, Wing Hing said it has agreed to issue 250 mln yuan worth of
convertible notes to an institutional investor.
At 10:10 am, Wing Hing shares were flat at 2.12 hkd.
(1 usd = 7.0 yuan, 7.8 hkd)
george.ng@xfn.com
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