AMTD Group Inc. 尚乘集團有限公司
AMTD Chairman Calvin Choi Chi Kin loses appeal: banned by SFC for 2 years
| SFAT Report
SFC, 29-Sep-2023
The SFC's investigation followed the Webb-site article "Hiding behind the cornerstones" of 3-Oct-2016, which also featured a number of other dubious transactions.
SFC, 29-Sep-2023
The SFC's investigation followed the Webb-site article "Hiding behind the cornerstones" of 3-Oct-2016, which also featured a number of other dubious transactions.
Calvin Choi Chi Kin v SFC
| Hiding behind the cornerstones
SFAT, 29-Apr-2022
The Chairman & CEO of AMTD applies for anonymity in his appeal and is refused. The SFC has ordered him banned for 2 years for breaches of the Code of Conduct. The substantive appeal will be heard later. The subject matter appears to relate to our article "Hiding behind the cornerstones" of 3-Oct-2016.
SFAT, 29-Apr-2022
The Chairman & CEO of AMTD applies for anonymity in his appeal and is refused. The SFC has ordered him banned for 2 years for breaches of the Code of Conduct. The substantive appeal will be heard later. The subject matter appears to relate to our article "Hiding behind the cornerstones" of 3-Oct-2016.
P&R swaps 8.25% of Cosmopolitan (0120.HK) for shares in AMTD International (NYSE:HKIB) with AMTD Group Co Ltd
Company announcement, 24-Jan-2020
P&R is owned 50:50 by Paliburg (0617) and Regal Hotels (0078), a 69.25% subsidiary of Paliburg. The deal is valued at HK$626.1m based on an AMTD price of US$8.45 and a Cosmopolitan price of HK$1.70. The 9.5m A-Shares in AMTD International are 16.89% of the class, 3.87% of the equity and 0.25% of the voting rights, raising the Paliburg group holding to 34.82% of the class, 8.84% of the equity and 0.58% of the voting rights.
Company announcement, 24-Jan-2020
P&R is owned 50:50 by Paliburg (0617) and Regal Hotels (0078), a 69.25% subsidiary of Paliburg. The deal is valued at HK$626.1m based on an AMTD price of US$8.45 and a Cosmopolitan price of HK$1.70. The 9.5m A-Shares in AMTD International are 16.89% of the class, 3.87% of the equity and 0.25% of the voting rights, raising the Paliburg group holding to 34.82% of the class, 8.84% of the equity and 0.58% of the voting rights.
P&R and Cosmo (0120) acquire shares in AMTD Intl (NYSE:HKIB)
| Circular
Company announcement, 2-Jan-2020
P&R is owned 50:50 by Paliburg (0617) and its subsidiary Regal Hotels (0078). P&R's subsidiary Cosmo sells, on the year-end date, a failed investment in Yuancheng Logistics to Fortis Fund IV Ltd. The circular reveals this is owned by Mr Cong Lin, a director of a controlling shareholder of AMTD Group. In return, Cosmo buys 6.069m A-shares in AMTD Intl from AMTD Group for HK$400m. P&R is also sells 4.98% of Cosmo to International Merchants Holdings for HK$374m. The circular reveals this is 90% owned by Qu Xiao Chuan. In return, P&R buys 5.674m A-shares of AMTD Intl for HK$374m. Finally, P&R sells 50% of a hotel in Sheung Wan to AMTD Group for $270m (net of debt), of which $60m is in cash and the rest an IOU.
Company announcement, 2-Jan-2020
P&R is owned 50:50 by Paliburg (0617) and its subsidiary Regal Hotels (0078). P&R's subsidiary Cosmo sells, on the year-end date, a failed investment in Yuancheng Logistics to Fortis Fund IV Ltd. The circular reveals this is owned by Mr Cong Lin, a director of a controlling shareholder of AMTD Group. In return, Cosmo buys 6.069m A-shares in AMTD Intl from AMTD Group for HK$400m. P&R is also sells 4.98% of Cosmo to International Merchants Holdings for HK$374m. The circular reveals this is 90% owned by Qu Xiao Chuan. In return, P&R buys 5.674m A-shares of AMTD Intl for HK$374m. Finally, P&R sells 50% of a hotel in Sheung Wan to AMTD Group for $270m (net of debt), of which $60m is in cash and the rest an IOU.
AMTD Holdings Ltd borrows 301.8m (17.12%) H-shares of Bank of Qingdao (3866) and pledges them to Guangzhou Rural Commercial Bank (1551)
| Pledgee filing
Disclosure of interest, 18-Sep-2017
The share-lender is a 100% subsidiary of AMTD Strategic Capital Group, which is indirectly 79.13% owned by AMTD Group Co Ltd, which is 71.03% owned by L.R. Capital Financial Holdings Ltd, which is 65.1% owned by AMT Holdings Ltd. 3 months earlier, AMTD Global Markets Ltd (then named AMTD Asset Management Ltd, a subsidiary of AMTD Group Co Ltd) was Financial Adviser in the IPO of GRC Bank. (Note: we believe AMTD Holdings Ltd was renamed L.R. Capital Holdings Ltd in 2018). At the market price of HK$6.33, the pledged shares are worth about HK$1.91bn.
Disclosure of interest, 18-Sep-2017
The share-lender is a 100% subsidiary of AMTD Strategic Capital Group, which is indirectly 79.13% owned by AMTD Group Co Ltd, which is 71.03% owned by L.R. Capital Financial Holdings Ltd, which is 65.1% owned by AMT Holdings Ltd. 3 months earlier, AMTD Global Markets Ltd (then named AMTD Asset Management Ltd, a subsidiary of AMTD Group Co Ltd) was Financial Adviser in the IPO of GRC Bank. (Note: we believe AMTD Holdings Ltd was renamed L.R. Capital Holdings Ltd in 2018). At the market price of HK$6.33, the pledged shares are worth about HK$1.91bn.
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