Haier to be leading shareholder only after exercising subscription rights

It was reported by several newspapers that Mak Shiu Tong, chairman of CCT Multimedia Holdings (1169), hinted that Haier Group might get listed through backdoor listing of the company and the news spurred CCT Multimedia to surge over two times. The company clarified that pursuant to the agreement signed by the both sides, only after Haier exercised the subscriptions rights of China joint venture, it could increase its shareholding to 42.8% and became the single biggest shareholder.

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