Magnificent Estates (00201), Shun Ho Technology (00219) and Shun Ho Resources (00253) said Magnificent Estates acquired on-market 3.1 million shares of HSBC Holdings (00005) in a series of transactions conducted from 2 to 29 September 2015 for a total of HK$183 million at the price between HK$57.25 and HK$59.85 per HSBC share.
The management are of the view that the acquisition provides the Group with a good investment opportunity to improve incomes from the cash available. The above acquisition will result in increasing income cash deposit of 0.4% per year to about 6.5% dividend yield per year.
07/10/2015 08:54
Magnificent (00201) buys 3.1m HSBC shares for HK$183m
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