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Jun 19, 2025   02:00:53 p.m.
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2007-7-3   12:04:00 p.m. HKT, XFNA
HK-listed Grandtop Intl buys 29.9 pct of Birmingham City FC for 14.95 mln stg
 


HONG KONG (XFN-ASIA) - Grandtop International Holdings Ltd said that it has agreed to buy a 29.9 pct stake in Birmingham City Plc , the parent of Birmingham City FC, for a total cash consideration of 14.95 mln stg.

The club has been promoted to football's English Premier League for the 2007-08 season.

Birmingham City is currently listed on the London Stock Exchange's Alternative Investment Market.

Grandtop said its proposed investment in Birmingham City is aimed at diversifying the group's business and finding additional sources of income.

It said the group is currently engaged in apparel sourcing, trading and sales support services, a business which has become highly competitive.

Grandtop said that Carson Yeung, a substantial shareholder of the company, introduced the proposed acquisition to the group.

It said that in the event that Grandtop shareholders do not approve the proposed acquisition or are unable to find third-party financing for the transaction, Yeung has undertaken to buy the Birmingham City shares in his personal capacity.

At 12.00 noon, Grandtop was up 0.11 hkd or 6.67 pct at 1.76.

(1 usd = 7.8 hkd)

jun.concepcion@xfn.com

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