Chen Xiao Duiguo U.S. confidence in high
States United States
Formal response to Morgan Stanley's stock market sell-off brought the pressure. Yesterday
(February 26, 2007)
Gome
Electrical
(HK0493) announcement, said President Chen Xiao, Gome Group purchased 1,500 shares of Gome
Stock
, Executive Director of GOME GOME azaleas also buying 120 million shares. This part of the stock entirely from the Morgan Stanley's private equity firm in February 22 the sale of parts.
Morgan Stanley's private equity firm MSRetailLtd. Before the sale of 5760 shares in Chinese retailer Gome (0493.HK) shares. Affected by drag, Gome shares fell 2 days straight. Last Friday, closing Gome fell 5.5%, closing 9.05 Hong Kong dollars, as since November 3 last year, the largest decline. Yesterday, Gome shares continue lower, closing 8.83 Hong Kong dollars, down 2.43%.
Yesterday morning announcement that Gome, Gome Electrical Appliances Holding Ltd. The Board has noted the recent increase in trading volume of the company and the stock price fell. Notice that, MSRetailLtd. And MorganStanley & Co.InternationalLtd. On February 22, 2007 signed a 8.85 dollar per share placing 5760.7 million shares each in the share capital of the Company's existing shares of HK 0.1. The U.S. side said the country and, apart from reasons, are not aware of any reasons for the fluctuations.
Yesterday, Gome Group level through the repurchase of shares sold by Morgan Stanley reduced its volatility. Former chairman of Chen Xiao of China Paradise, through its owned and controlled company purchased 1,500 million shares RetailManagement, now, Chen Xiao, Gome and its controlled entities held a total of more than 400 million shares, accounting for stock ratio rose from 12.45% the previous to 12.94%. As
Huang Guangyu
The Lady and the State Executive Director of the United States, rhododendron purchase 120 million shares of its common control and Huang Guangyu of GOME shares held by the company also rose to 51.21 percent from the 51.18%.
Learned that Gome to sell shares through Morgan Stanley, about 5.1 billion cash. Industry experts predict, Morgan Stanley, and the realization of this behavior because it's original operating company has completed the task on the operation of Paradise, but also financial benefits in order to complete their target. The sale of Morgan Stanley, still holding the country after the United States about 192 million shares, or about the total share capital of the country the United States 6.24%.
Sun Hung Kai Properties in Hong Kong, said analysts JennyChan Gome stock valuations and other Chinese
Consumption
Not too high compared to stocks, is expected to continue to be sought after in the future.
's Connection
CHEN: I have confidence in the U.S. States
For the buyback by selling Morgan Stanley stock, will the country group president Chen Xiao said yesterday that the United States, from a financial
Investment
In the hands of share buybacks, should be said to investors, and investors want to see the desired results. Morgan Stanley
Retail
Division for consideration of return on investment, higher than the 57% early last year when the stock price, the sale of the state some of the U.S. stocks, has been good return on investment. Meanwhile, as the recipient of investment, from the hands of investors get back their own stock, mainly for the country the United States, Yongle merge smoothly, and the confidence of the combined benefits of a performance. Also on the governance structure and group
Management
Team's outstanding performance, and confidence in the future development of the Group.
Expert:
Home Appliances
Chain overvalued
Lu Renbo
appliance industry experts said home appliance chain in China is a sunrise industry, is still developing. The domestic home appliance chain enterprises in the capital market in the stock price is relatively high, the net assets of companies and tens of times or even ten times the price difference, which for an industry still in its infancy, it is not normal. The Morgan Stanley shares soar in the country after the United States and select holdings, also out of consideration of return on investment. And country level time repurchase the United States, then more capital to stabilize its market performance.
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