by winston » Wed Jan 27, 2010 11:31 am
Not vested
DJ MARKET TALK: Sino Biopharm +11.6% On China Life Stake Buy
1107 [Dow Jones] Sino Biopharmaceutical (1177.HK) last +11.6% at HK$2.50 on resuming trade; volume spikes to HK$606.5 million, making stock most heavily traded in HK, as includes shares placed.
Company announces it introduced China Life (2628.HK), funds under CITIC Securities as institutional investors, via issue of 255 million new shares at HK$2.10 each; says net proceeds of HK$533 million intended for acquisitions.
China Life earlier bought stake in Sino-Ocean Land (3377.HK), had similar boost to SOL share prices, but effect short-lived. China Life will only hold 4.2% stake in Sino Biopharm, strictly passive investor. Stock earlier surges 19.2% to HK$2.67, may cap short-term upside.
Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"