Top Chinese Company EVERBRIGHT SECURITIES to buy SAFC?

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Major Major

Major Major

Winger
So say my Hk sources today... and mainland chatter on wechat (combination of FB and Whatsapp)..who knows...but wiki states:


Everbright Securities Company Limited is one of the largest[according to whom?] securities brokerage by assets in China, controlled by state-owned financial conglomerate, China Everbright Group.[2] It was founded in 1996 and is based in Shanghai.[3]

It was listed on the Shanghai Stock Exchange in 2009 with capital raising of CN¥10.96 billion. It was the secondIPO by a Chinese brokerage, following CITIC Securities in 2002.[4]

On 2 February 2015, Everbright Securities Co Ltd announced its agreement to buy Sun Hung Kai Financial's 70% stake for HK$4.1 billion.[5]

As of their June 2015 quarterly filing, Everbright ranks no. 2 of all Chinese companies for net increase from borrowings, net change in cash, and net cash and cash equivalents ending balance. Net cash and cash equivalents ending balance represented over 131% of Everbright's total market cap at the time.[6]
 


Major Major said:
So say my Hk sources today... and mainland chatter on wechat (combination of FB and Whatsapp)..who knows...but wiki states:


Everbright Securities Company Limited is one of the largest[according to whom?] securities brokerage by assets in China, controlled by state-owned financial conglomerate, China Everbright Group.[2] It was founded in 1996 and is based in Shanghai.[3]

It was listed on the Shanghai Stock Exchange in 2009 with capital raising of CN¥10.96 billion. It was the secondIPO by a Chinese brokerage, following CITIC Securities in 2002.[4]

On 2 February 2015, Everbright Securities Co Ltd announced its agreement to buy Sun Hung Kai Financial's 70% stake for HK$4.1 billion.[5]

As of their June 2015 quarterly filing, Everbright ranks no. 2 of all Chinese companies for net increase from borrowings, net change in cash, and net cash and cash equivalents ending balance. Net cash and cash equivalents ending balance represented over 131% of Everbright's total market cap at the time.[6]
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Not being funny but that reads like a load of *******. What do they actually do to generate income? It reads like a dot com company that raised loads of money through an IPO to inflate the share price then went bust because they had no business plan. They specialise in buying and selling securities? Generous way of saying asset strippers
 
Horace Cope said:
Not being funny but that reads like a load of *******. What do they actually do to generate income? It reads like a dot com company that raised loads of money through an IPO to inflate the share price then went bust because they had no business plan. They specialise in buying and selling securities? Generous way of saying asset strippers
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Who cares as long as they don't go bust, have money and spend it on players though, eh?
 
Horace Cope said:
Not being funny but that reads like a load of *******. What do they actually do to generate income? It reads like a dot com company that raised loads of money through an IPO to inflate the share price then went bust because they had no business plan. They specialise in buying and selling securities? Generous way of saying asset strippers
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Wasn't asset stripping something Short's US business was accused of doing?
 
At this stage, any takeover will happen in the summer I reckon. The clubs value will plummet if we go down. Better to pay less after relegation than more and suffer relegation I'd imagine from a business perspective.
Obviously survival would be preferable like.
 
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