Mission Capital Group Limited
Skyway (1141) exits Joint Global Ltd for HK$5m and Freewill Holdings Ltd for HK$105m
| The Joint Global Implosion
Company announcement, 6-Mar-2017
Skyway paid HK$440m when it subscribed for the Freewill shares in Jul-2015. It obtained the 41m JG shares in exchange for 41m shares of HEC Capital when it pooled its HECC holdings with 10 other shareholders on 15-Sep-2015. It subscribed HK$228m for 38m shares of HECC on 30-Jun-2014 and HK$18m for 3m shares on 22-Jan-2013, a total cost of $246m. JG subsequently imloded as covered in our article of 30-Sep-2016. Update: the buybacks of these holdings came just 2 days before the takeover of Skyway by China Minsheng Bank (1988) was announced.
Company announcement, 6-Mar-2017
Skyway paid HK$440m when it subscribed for the Freewill shares in Jul-2015. It obtained the 41m JG shares in exchange for 41m shares of HEC Capital when it pooled its HECC holdings with 10 other shareholders on 15-Sep-2015. It subscribed HK$228m for 38m shares of HECC on 30-Jun-2014 and HK$18m for 3m shares on 22-Jan-2013, a total cost of $246m. JG subsequently imloded as covered in our article of 30-Sep-2016. Update: the buybacks of these holdings came just 2 days before the takeover of Skyway by China Minsheng Bank (1988) was announced.
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