CEEI (0986) sells China Jicheng (1027), buys Luen Wong (8217)

What it doesn't say: CEEI has breached Listing Rules by failing to obtain shareholders' approval in advance of Major Transactions and by failing to announce them for 4 weeks. Each stock is the subject of SFC concentration warnings. We calculate that the purchase of Luen Wong shares is at a P/B of 321 and a P/E of 861. CEEI says the deal is "fair and reasonable", "a good investment opportunity" and "an attractive investment which will provide satisfactory return".

Organisations

China Environmental Energy Investment Limited 中國環保能源投資有限公司
China Jicheng Holdings Limited 中國集成控股有限公司
WMHW Holdings Limited 萬民好物控股有限公司

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Bubble/concentration warnings

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