Success Dragon may shift majority shareholder

Hong Kong-listed Success Dragon International Holdings has announced a new deal that may see a change in the company’s majority shareholder.

According to a filing from the company on Wednesday, Mr. Yong Khong Yoong Ma, who currently holds 24.65 percent in the company, has entered into a MOU with Ms Zhang Lin Lin, a holder of around 8.4 percent of entire issued shares for his total interests in the company.

“The Possible Disposal, if it materialises, will lead to a change in control of the Company,” said the company in a filing.

The deal is expected to confirm sometime by June 17, 2017.

More news from this jurisdiction

Hong KongMonday, Jul 17, 2017

Hong Kong’s 2016/17 season came to an end on Sunday, with the Hong Kong Jockey Club reporting record turnover of HK$117.5 billion (US$15.1 billion) for the season, up 10.7 percent year-on-year.

Japan, Hong KongMonday, Jul 03, 2017

Japanese gaming mogul Kazuo Okada has reportedly filed a lawsuit against his son, daughter and wife in an attempt to regain control of Okada Holdings Ltd.

Hong KongSunday, Jun 25, 2017

Macau gambling magnate Stanley Ho has stepped down as executive chairman of Hong Kong conglomerate Shun Tak Holdings Ltd, with daughter Pansy Ho taking up the position.

Hong Kong, MacauThursday, Jun 22, 2017

A total of 346 concrete cube test results have been labelled as “problematic” since the investigation into the Hong Kong-Zhuhai-Macau bridge went underway.

Hong KongFriday, Jun 16, 2017

Landing International Ltd. owner Yang Zhihui on Wednesday acquired an additional 5.26 percent stake in Landing International Development, increasing his stake to 51.41 percent.

Hong KongThursday, Jun 01, 2017

Rexlot Holdings says its shareholder Keen Start has received tenders for 75.01 percent of its 2016 bonds and 75.05 percent of its 2019 bonds under a tender offer.

Hong KongThursday, Jun 01, 2017

Neptune Group, an investor in junkets in Macau, has asked for its shares to be suspended from trading on the Hong Kong Stock Exchange from June 1st.