 |
|
  |
2004-3-1 10:21:00 a.m. HKT, XFNA
Hong Kong's Dickson Group unit to buy Smart Creative stake for 15.4 mln hkd
|
| |
HONG KONG (AFX-ASIA) - Machine part and electronic component product
trading company Dickson Group Holdings Ltd (313.HK) said its unit Dickson
properties Ltd has agreed to acquire 40 pct of Smart Creative Enterprises Ltd
for 15.4 mln hkd from independent third party Kwok Hung-biu.
The amount will be satisfied by the issue of 154 mln new shares at 0.10
hkd each to Kwok, it said in a statement.
The shares represent about 19.95 and 16.63 pct of Dickson's existing and
enlarged issued share capital, it said.
Upon completion, Smart Creative will be 40 pct-owned by Dickson, with
Kwok holding 50 pct and other shareholders holding the remaining 10 pct.
Dickson said it believes the acquisition will provide additional income
for the group in light of rising property prices in the mainland.
Smart Creative owns 10 pct in Sanhe Yunfang Real Estate Development Co
Ltd, a Sino-foreign equity joint-venture company which has a total investment
amount of 25 mln usd and registered capital of 10.84 mln usd.
Sanhe Yunfang is involved in the development and construction of real
estate projects in Hebei province.
(1 usd = 7.8 hkd)
susanna.tai@afxasia.com
st/swp
AFN |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
