 |
|
  |
2003-12-30 02:35:00 p.m. HKT, XFNA
Hong Kong's Tomorrow Intl unit to sell 19 pct interest in Swank
|
| |
HONG KONG (AFX-ASIA) - Tomorrow International Holdings Ltd (760.HK) said
wholly-owned unit Probest Holdings Inc will dispose of 593.72 mln shares in
Swank International Manufacturing Co Ltd (663.HK) to SW Kingsway Capital
Holdings Ltd (188.HK) for 15.97 mln hkd, or 0.0269 hkd per share.
The 593.72 mln shares represent 19 pct of Swank's issued capital, it
added.
The disposal price is at a 51.90 pct discount to Swank's closing of 0.056
hkd on November 4, the day before the suspension of trading in its shares.
Probest will also place through agent SW Kingway 412.79 mln Swank shares,
or 13.2 pct of the issued capital, at the same price.
The transactions will reduce Probest's stake in Swank to 51 pct from 83.
21 pct and raise the proportion of Swank shares in public hands to 29.99 pct
of its issued capital from 16.78 pct.
Tomorrow has also granted SW Kingsway an option to acquire a 50 pct stake
in Probest for 15.66 mln hkd within a period of 15 months.
(1 usd = 7.80 hkd)
peter.chan@afxasia.com
ptc/ds
AFN |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
