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| Capital Appreciation on Another Successful Direct Investment of Prosperity Investment |
HONG KONG, May 31, 2011 - (ACN Newswire) - GreaterChina Professional Services Limited (8193.HK), in which Prosperity Investment Holdings Limited ("Prosperity Investment", 310.HK) holds a 15% attributable indirect interest, is successfully listed on the GEM Board of the Hong Kong Stock Exchange Limited on 31 May 2011. GreaterChina Professional Services successfully issued 125 million shares at a placing price of HK$0.72/share, raising a gross amount of HK$90 million and a net amount of HK$78 million after expenses.
The net book value of this 15% attributable indirect interest was HK$5.0 million for Prosperity Investment. Based on the placing price of HK$0.72/share, the attributable value of this investment is HK$54.0 million, representing a capital appreciation of 9.8 times. GreaterChina Professional Services closed at HK$0.83/share on the first day of trading.
Mr. Cheng Hai Rong, Executive Chairman of Prosperity Investment, said, "We are pleased to see the listing of GreaterChina Professional Services, which signifies the success of our new business focus on direct investment in companies with growth and listing potentials. Capital appreciation from our direct investments will provide us with sustainable growth and returns to our shareholders."
GreaterChina Professional Services is one of the leading providers of integrated professional services to public and private companies and individual investors in Hong Kong and the PRC. It provides assets advisory services, asset appraisal services, corporate services and corporate consultancy services, brand building as well as human resources deployment.
Mr. Cheng further concluded, "We treasure our strategic alliance with GreaterChina Professional Services Group. We can benefit from the vast talent pool of professionals and their broad base of services in our execution of investment projects."
Contact:
Strategic Financial Relations Limited
Heidi So
Tel: 852-2864 4826
Email: heidi.so@sprg.com.hk
Jover Wong
Tel: 852-2114 4955
Email: jover.wong@sprg.com.hk
Fax: 852-2804 2789
Website: www.sprg.com.hk
Topic: IPO
Source: Prosperity Investment Holdings
Sectors: Daily Finance
https://www.acnnewswire.com
From the Asia Corporate News Network
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