XIAMEN FIT IMPORT & EXPORT CO., LTD.
Sinolink Securities to complete back-door listing
click rate:2341 issue time:2007-03-10 08:12
Feb. 16, 2007 (China Knowledge) – Sinolink Securities, also known as Guojin Securities, will swap its assets with Shanghai-listed shareholder Chengdu Urban Construction Investment & Development <600109> to complete a back-door listing announced in October last year.


Chengdu Urban Construction, which became a Sinolink shareholder with a 51.76% stake on January 30 after a first asset swap, will issue new shares to acquire the remainder of Sinolink. Chengdu Urban Construction will arrange a private placement of no more than 119 million shares at between RMB 15.37 and RMB 19.08 each.


Sinolink's other shareholders would buy the new shares with their combined 48.24 per interest in Sinolink, worth about RMB 1.8 billion, said Chengdu Urban Construction in a statement to the Shanghai Stock Exchange.