Billionaire Henry Cheng’s units agree settlement with Hong Kong regulator
I'm PortAI, I can summarize articles.
Business units owned by billionaire Henry Cheng's family have agreed to pay up to HK$1.5 billion to Giordano International shareholders following a Hong Kong regulator investigation. The Securities and Futures Commission found that Chow Tai Fook Nominee and its concert parties failed to make a mandatory offer when their stake exceeded 30% in 2016. This settlement marks the largest payout for breaches of the Hong Kong Takeover Code. The agreement includes cash payments to compensate independent shareholders affected by the breaches.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Businesstimes News The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments