Institutional Investors Increased Stake in GZI

Institutional Investors Increased Stake in GZI

(Hong Kong 11 May 2006) Yue Xiu Enterprises (Holdings) Limited ( Yue Xiu Enterprises ) announced that it has completed a block sale of 134 million existing shares of Guangzhou Investment Company Limited ( GZI ; stock code: 123) today to an internationally renowned institutional investor, an independent third party. The shares were placed at HK$1.81 per share.
The sale price of HK$1.81 per share represents a discount of approximately 1.1% to the closing price of HK$1.83 per share on 10 May 2006, being the last trading day of the shares prior to the date of this announcement; and a premium of approximately 10.2% to the average closing price of HK$1.643 per share for the last 10 trading days of the shares prior to the date of this announcement.
Yue Xiu believed that by introducing an internationally renowned institutional investor, the share sale would further strengthen the shareholder base of the Company and would enhance the future development of the Company. Yue Xiu held approximately 48% of the Company s existing issued shares before the share sale. It will hold approximately 46% of the existing issued shares immediately after completion of the share sale.
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