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2003-5-29 11:00:00 a.m. HKT, XFNA
HK's Texwinca major shareholder reduces interest with 66 mln placement
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HONG KONG (AFX-ASIA) - Texwinca Holdings Ltd (321.HK) said its majority
shareholder Giant Wizard Corporation has placed 66 mln shares to independent
investors at 5.90 hkd each.
The placement price represents an 8.53 pct discount to Texwinca's close
of 6.45 hkd on May 27.
Giant Wizard is 87.51 pct owned by a discretionary trust, the
beneficiaries of which include family members of Texwinca chairman Poon Bun
Chak, who also holds 2.75 pct. Other shareholders include Poon Kei Chak with
8.30 pct, Pook Kwan Chak with 1.35 pct, and a former employee with 0.09 pct.
Poon Kei Chak and Poon Kwan Chak are directors of Texwinca.
Following the placement, the interest in the company of the chairman and
his associates, including Giant Wizard, declined to 53.15 pct from 58.13 pct.
peter.chan@afxasia.com
ptc/ds/skb
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