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2007-12-11 10:59:00 a.m. HKT, XFNA
STOCK ALERT - HK-listed Global Green Tech sharply lower as spin-off scrubbed
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HONG KONG (XFN-ASIA) - Shares of Global Green Tech Group Ltd fell 20 pct
after it postponed the initial public offering of cosmetic and healthcare
unit Bio Beauty Group Ltd (BBG) because of unfavorable market conditions and
the lackluster performance of some recent debutants.
Global Green said it plans to relaunch the BBG offering in 2008.
The company said the delay of the proposed spin-off would not have any
adverse impact on its financial position.
At 10: 40 Global Greeen Tech was trading at 1.48 hkd, down 0.38 hkd or 20.
00 pct.
( 1 usd = 7.8 hkd)
george.ng@xfn.com xfngn/xfjamesa
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