Firstone International Holdings

Firstone chairman raises share

Food-maker Firstone International Holdings says its chairman has converted 50 convertible preference shares in a move which will dilute the stake of the largest shareholder, red-chip company Guangnan (Holdings).

Wednesday, 24 December, 1997, 12:00am

Guangnan takes a 22pc stake

Food and electronics manufacturer Firstone International Holdings says that its share placement in red chip Guangnan (Holdings) was successfully completed on Friday. The transaction makes Guangnan the second largest Firstone shareholder with a 22.48 per cent stake.

17 Nov 1997 - 12:00am

Firstone extends deadline

Electronics trader Firstone International Holdings will further extend the deadline for its issue and placement of new shares to major shareholder Guangnan (Holdings). The original September 30 contract was delayed until October 31. It has now been delayed until November 14.

31 Oct 1997 - 12:00am

Firstone issue oversubscribed

Firstone International Holdings, which has recently enlisted red-chip Guangnan (Holdings) as its new major shareholder, has reported its rights issue was 2.36 times subscribed.

4 Aug 1997 - 12:00am

Guangnan in Firstone deal

Red chip Guangnan (Holdings) will spend $120 million for 313 million new shares, or 22.5 per cent of enlarged capital, in food firm Firstone International Holdings. The subscription price is 40 cents a share - a 36.5 per cent discount on Monday's price before Firstone was suspended.

18 Jul 1997 - 12:00am

Red chip eyes Firstone stake

Red chip Guangnan (Holdings) is negotiating to take 20 per cent of cash-strapped Firstone International Holdings as a strategic investment. A source close to the company said negotiations were still underway and the price had not been finalised. Hong Kong listed Firstone has a wine factory in Shaoxing and an instant noodles plant in Shenzhen.

16 Jul 1997 - 12:00am