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CCB International Successfully Arranges Important Acquisition and Share Allotment for Hong Kong Listed Company

2007-03-01

CCB International has recently completed an important acquisition and private placement for Proactive Technology (8089), a listed company in Hong Kong in the capacity of its financial advisor and placing agent, with the initial placed shares worth of about HK$ 390 million. It is the first time that CCB International has completed such a project for a Hong Kong listed company in the said capacity, which indicates a new breakthrough in its business of investment banking. Hong Kong Proactive Technology is a company featuring value-added telecommunication and e-phone solutions. According to the company announcement, Dragon Billion Limited, a wholly owned subsidiary of Proactive Technology, has signed a purchase agreement with and wholly acquired Shellybeach Investment Limited, whose wholly owned subsidiary, on the other hand, will establish a joint venture corporation together with China Railway (Hong Kong)for "the purchase of cargo trains as well as the management and operation and railway transportation and related logistic projects in China". In line with the important acquisition project, Proactive Technology has placed its current shares and issued new ones. The placement has turned out to be dynamic and attracted a great number of subscribers including such large funds as Alliance Trust (UK), Indus Capital Advisors (US) and Grandhara Capital Advisors (US), resulting in excellent performance in the secondary market. That, among other things, has contributed positively to the establishment of CCB International's market brand and placement network as well as to the development of similar projects. According to this year's development strategy, CCB International will cooperate further with the Head Office and branches on the Mainland, so as to play an active role in providing follow-up restructuring consultancy, share allotment and new share issuance for listed companies overseas (including Hong Kong and other nations and regions overseas).

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