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Article: Hong Kong: Baida acquiring strategic stake in E3 Holdings.

Article from:
TendersInfo
Article date:
September 23, 2008
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Byline: yunus205

BAIDA Finance (Group) Company Limited, a Hong Kong-based firm involved in project investing and financing, is taking a strategic stake in E3 Holdings, with plans to turn it around through project collaboration.

E3 said yesterday that Baida will subscribe for 217.98 million new E3 shares - or about 11.1 per cent of the enlarged share capital - at a price of about $5.89 million cash or 2.7 cents per share.

The proposed stake - which is subject to Singapore Exchange listing approval for the subscription shares - will make Baida the single largest shareholder.

E3's announcement yesterday said ...

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