Viewtran Group, Inc.
Cogobuy (0400): breach of Listing Rules: late disclosure of loans to Blueberry Capital Ltd
Company announcement, 22-Jan-2018
Cogobuy reveals that during 2017 it granted a US$230m loan facility to Blueberry. KPMG quit as auditors 5 weeks ago citing insufficient information to be satisfied that the loans were properly accounted for. Cogobuy again fails to mention that the BVI firm was a cornerstone investor in its 2014 IPO. The owner(s) of this firm have not been disclosed. We note that Viewtran Group Inc, a former NASDAQ firm controlled by Jeffrey Kang, Cogobuy's CEO, sold substantially all its assets to Blueberry in 2015 for US$70m before delisting and retaining the proceeds. This is the only other reference to Blueberry that we can find online. So who owns it, Mr Kang?
Company announcement, 22-Jan-2018
Cogobuy reveals that during 2017 it granted a US$230m loan facility to Blueberry. KPMG quit as auditors 5 weeks ago citing insufficient information to be satisfied that the loans were properly accounted for. Cogobuy again fails to mention that the BVI firm was a cornerstone investor in its 2014 IPO. The owner(s) of this firm have not been disclosed. We note that Viewtran Group Inc, a former NASDAQ firm controlled by Jeffrey Kang, Cogobuy's CEO, sold substantially all its assets to Blueberry in 2015 for US$70m before delisting and retaining the proceeds. This is the only other reference to Blueberry that we can find online. So who owns it, Mr Kang?
Viewtran (NASDAQ: VIEW) sells substantially all its assets to Blueberry Capital Ltd
Company filing, 12-May-2015
The owner of Blueberry is not disclosed but is said to be an independent third party. Viewtran intends to keep the US$70m proceeds, becoming a cash shell. Viewtran is controlled by Jeffrey Kang, who is also Chairman and controller of Cogobuy (0400.HK), in which Blueberry was a cornerstone investor in its IPO last year. We cannot find any other trace of Blueberry on the web.
Company filing, 12-May-2015
The owner of Blueberry is not disclosed but is said to be an independent third party. Viewtran intends to keep the US$70m proceeds, becoming a cash shell. Viewtran is controlled by Jeffrey Kang, who is also Chairman and controller of Cogobuy (0400.HK), in which Blueberry was a cornerstone investor in its IPO last year. We cannot find any other trace of Blueberry on the web.
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