Thats funny ....Advanced Technology International Holdings was marketed to US investors as Score One (SCRO/SREA) a reverse merger into a US public shell corporation. They sold it down, diluted it, reverse split it, reorganized the share structure and then floated it as an illegal IPO in Hong Kong.
YUE FUNG INTERNATIONAL GROUP HOLDING LIMITED
Announces Fu Cheong International's IPO
Hong Kong, March 13, 2002 - Electronics consumer and digital imaging products manufacturer, Yue Fung International Group Holding Limited (SEHK: 965) announces today the initial public offering of a Group invested company, Fu Cheong International Holdings Limited (the "Fu Cheong").
Fu Cheong is principally engaged in the manufacture of PCBs in the PRC and sales of PCBs to Hong Kong consumer electronic products manufacturers with production facilities located in the PRC. The company announces the placing of 255 million shares and the public offer of 45 million shares at an offer price of HK$0.20 each. Estimated price/earnings multiples are 5.10 times and 6.00 times respectively on a weighted average and pro forma fully diluted basis. The public offer is scheduled to open between Wednesday, March 13 and Monday, March 18, 2002. Its shares will commence dealings on the main board of the Stock Exchange of Hong Kong on Wednesday, March 27, 2002 (stock code: 916).
In March 2000, Yue Fung International acquired 30% equity interests in Advanced Technology International Holdings Limited, which indirectly holds Fu Cheong. Based on the offer price, Fu Cheong will have a capitalisation of HK$240 million. Immediately after flotation, Yue Fung International will indirectly hold 14.3% stake in Fu Cheong. "We are pleased to witness the IPO of Fu Cheong and we look forward to continue having the company as our business partner in the future," said Mr. Lee Wing Kan, Chairman, Yue Fung International.
Yue Fung International Group Holding Limited (SEHK: 965) is principally engaged in the design, development and sale of a wide range of personal electronic consumer and digital imaging products.
Issued by : Yue Fung International Group Holding Limited
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Source: Yue Fung International Group Holding Limited
irasia.com
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