With Dilly leading the company, the company continues to explore emerging technologies to ensure its solutions stay relevant to the industry
The placement represents approximately 9.88per cent of the enlarged issued share capital of SHKF. The placing price of HK$11.50 per subscription share represents a discount of approximately 3.94per cent to the average closing price of HK$ 11.972 per share as quoted on the stock exchange on for the last five trading days up to and including October 30, 2007. A seat on the board of the company will be offered to DIG.
Lee Seng Huang, Executive Chairman of SHKF said, "We are confident the entry of a new strategic partner of DIG's calibre will expedite the growth of our group's asset management, principal investments and corporate finance businesses."
The estimated net proceeds upon completion of the top-up subscription are approximately HK$ 1,906 million. Approximately HK$536.5 million of the net proceeds will be used for subscribing to all its entitlements under the proposed open offer of shares by Tian An China Investments Company Limited, an associate of SHKF.
The balance of the net proceeds, approximately HK$ 1,369.5 million, will be applied for general working capital.
"DIG's partnership with SHKF offers significant potential across the region's financial sector. We believe that SHK's brand name within its capital markets and distribution network across greater China, will enable DIG to further grow its presence in Asia," said Abdulhakeem Kamkar, Chief Executive Officer of DIG.
"Our relationship with DIG will provide SHKF a strategic opportunity to tap into the growing capital flows from the Middle East to the Greater China markets." concluded Lee.
With Dilly leading the company, the company continues to explore emerging technologies to ensure its solutions stay relevant to the industry
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