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HKG:1780

2 stories mentioning HKG:1780

Every FINWIRES story that references HKG:1780, newest first.

Asia

Rongzun International Warns of Wider Full-Year Loss

Rongzun International (HKG:1780) expects a post-tax loss of between approximately HK$34.1 million and HK$36 million for the year ended March 31, compared with about HK$9.5 million a year prior, according to a Monday Hong Kong bourse filing.The civil engineering firm attributed the forecast to additional costs for off-site works, as well as certain extra work conducted without an additional charge to preserve a client relationship.

HKG:1780
Asia

Rongzun International Shareholder Bumps Stake, Launches Takeover; Shares Jump 68%

Rongzun International (HKG:1780) said it became the subject of a mandatory takeover offer after its largest shareholder bumped their ownership in the business, according to a Thursday filing with the Hong Kong bourse.The civil engineering firm's shares jumped 68% in late-morning trade Friday.Yang Jingyao, the single largest shareholder of the company, acquired 84 million shares of the business from Xia Liping at HK$0.52 each, or HK$43.7 million in total.The purchase raised Yang's ownership in Rongzun International to 33.39% from 19.84% previously.Yang has now offered to purchase the rest of the business at the same price.Rongzun International said it had formed an independent board committee to advise minority shareholders on the offer.

HKG:1780