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2005-9-22 08:50:00 a.m. HKT, XFNA
Hong Kong-listed Kantone Holdings, chairman to sell 360 mln shares - report
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HONG KONG (XFN-ASIA) - Kantone Holdings Ltd and its chairman, Paul Kan,
are planning to sell 360 mln shares for 0.73 hkd each to raise about 263 mln
hkd, The Standard reported, without identifying any source.
The newspaper said Kantone and its chairman are selling the shares to
cash-in on a near-doubling of price of its stock since the company announced
late last month its plan to enter the lottery market in mainland China.
Two-thirds of the shares on offer are to come from Kantone Holdings and
one-third from Kan, The Standard said.
The shares are being offered at a 6.41 pct discount to the company's
closing price of 0.78 hkd yesterday.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com
jc/jm
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