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2009-1-16 03:55:00 p.m. HKT, XFNA
DJ MARKET TALK:Kai Yuan +16.4%; Buys Steel Manufacturer,Placement
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| 1541 [Dow Jones] Kai Yuan (1215.HK) +16.4% at 27 HK cents on resuming trade after announcing plans to acquire steel-product maker Fame Risen for HK$5.2 billion vs Kai Yuan's market cap of HK$1.9 billion; deal to be settled with 2 billion consideration shares priced at HK$2.60/share, which 1,021% higher vs pre-suspension level of 23.2 HK cents. Investment in steel industry via acquisition without incurring material cash outflow opportunistic, with stock likely to revisit early high of 39.5 HK cents near-term.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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