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Three tycoons invest in Nine Dragons.(AT $20M APIECE)
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Official Board Markets
- Article date:
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February 18, 2006
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Copyright informationCOPYRIGHT 2006 Questex Media Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nine Dragons Paper (Holdings), the largest containerboard maker in China, plans to sell U.S. $60 million (HK $468 million) worth of shares to tycoons Lee Shau-kee, Cheng Yu-tung and Robert Kuok in its Hong Kong initial public offering, according to a preliminary prospectus obtained by institutional investors, reports The Standard, a Chinese business journal.
Lee, chairman of Henderson Land Development, Cheng, New World Development's chairman, and Malaysian billionaire Kuok have each committed to invest $20 million in Nine Dragons shares, accounting for almost 13.7 percent of the entire offering.
They will subscribe through their private investment companies and become ...
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