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2004-2-2 12:59:00 p.m. HKT, XFNA
Hong Kong's Yu Ming Investments says main shareholder buys 22 mln more shares
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HONG KONG (AFX-ASIA) - Yu Ming Investments Ltd (666.HK) said controlling
shareholder Megaland Development Ltd bought an additional 22 mln shares in
the company on Friday.
In a statement, the investment company said the acquisition was made in a
cross transaction in the Hong Kong market.
Megaland is wholly-owned by Oyster Services Ltd, a trustee of which the
ultimate beneficiaries are the children of Tony Fung Wing Cheung, the
chairman and executive director of Yu Ming.
Following the acquisition, Megaland's stake in Yu Ming has increased to
41.67 pct from 40.37 pct.
Yu Ming said, aside from Megaland's share acquisition, there are no other
transactions worth disclosing to explain fluctuations in its share price on
Friday.
At the midday close, Yu Ming was unchanged at 0.305 hkd on volume of 734,
000 shares.
(1 usd = 7.8 hkd)
leonora.walet@afxasia.com
lw/ds
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