China Star expected to send off document of acquiring Ocean Shores on July 19

China Star Entertainment (0326) announced the agreement of acquiring 38.18% shareholding of Ocean Shores Group (0764) was finished recently and China Star Entertainment now held 46.36% shareholding of Ocean Shores. According to the rules of the acquisition, China Star needed to propose a whole acquisition and the integrated document was expected to send to the independent shareholders of Ocean Shores on July 19 or after the document being approved by the executive people. China Star spent HK$63 mln acquiring 63 mln shares of Ocean Shores, which represented 38.18% of the existing issued shares. After the dealing, China Star held 76.5 mln shares of Ocean Shores, circa 46.36% of the existing issued shares, so it would propose a whole-acquisition proposal.

Related stock : (326)( 764)