CHINA NEW MEDIA (HK) COMPANY LIMITED 中國新媒體(香港)有限公司

Raking muck, Part 1
In the first of a multi-part series, we delve into a transaction by the HK offshoot of Xinhua, the PRC's official news agency, and the people behind it. (21-Feb-2012)
Tsun Yip (8356) buys 17% of China New Media (HK) Co Ltd from Vicky Yu Wai Yin
Company announcement, 29-Jul-2011
For HK$70.04m of which $25m in cash and $45.04m in promissory notes. This follows the earlier purchase of 19% by Inno-Tech (0254) and the purchase 3 days ago of 7% by China Railsmedia (0745). The target is 51% owned by China Outdoor Media (8202). Its valuation is still claimed at $412m despite being loss-making and having negative net assets of $1m.
China Railsmedia (0745) buys 7% of China New Media (HK) Co Ltd from Vicky Yu Wai Yin
Company announcement, 26-Jul-2011
For HK$28.8m, of which $13m in cash and $15.8m in promissory note.
Inno-Tech (8202) buys 19% of China New Media (HK) Co Ltd from Vicky Yu Wai YinCircular
Company announcement, 18-Feb-2011
For HK$78m, half in cash, half in convertible bonds. The target is 51% owned by China Outdoor Media (0254), is loss-making, and has net liabilities of $0.7m but is valued at $412m.

Sign up for our free newsletter

Recommend Webb-site to a friend

Copyright & disclaimer, Privacy policy

Back to top