SCMP.com
30 Jun 2008
The latest fund-raising has given the company a market value of HK$29.8 billion, which is 40 per cent to 60 per cent below the valuation of HK$49.8 billion to HK$79.8 billion suggested by its planned offering.
The source said the three initial investors - the two investment banks and Temasek Holdings - had changed their convertible bonds to ordinary shares, which could allow them to own about 10 per cent.
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