Hontex International Holdings

Tiger Asia: no trial, just tribulation

Bill Hwang, founder of Tiger Asia Management LLC. Photo: Bloomberg

Yes, I also find it a little wearisome to keep raising this Tiger Asia case, but when a regulatory agency, which we have ourselves set up, takes it on itself to undermine our civil liberties, well, let's be weary in a good cause.

Thursday, 9 May, 2013, 4:39am 1 comment

Suspended Hontex eager to resume trading amid possible delisting

Hontex chairman Shao Ten-po. The company is fighting to retain its listing and resume trading.

The Hong Kong Stock Exchange is seeking to delist Hontex International Holdings, but the troubled firm is fighting to remain listed and have trading resume on its suspended shares.

13 Nov 2012 - 3:53am

Corrections & Clarifications

A Business Digest item yesterday said the Securities and Futures Commission fined Hontex International HK$42 million. In fact, the SFC imposed the fine on Hontex's IPO sponsor, Mega Capital (Asia), and revoked its licence for future listings.

31 Oct 2012 - 2:41am

Business Digest, October 30, 2012

Consolidation plan for key industries weighed

Nearly 99pc of Hontex investors take buyback

30 Oct 2012 - 4:26am

Hontex told to pay back HK$1b to investors

A Hong Kong-listed company has been ordered to pay back more than HK$1 billion to investors after a landmark decision in the High Court.

The ruling came after sports fabric maker Hontex International Holdings used misleading information in its listing prospectus in 2009.

21 Jun 2012 - 12:00am

Hontex fails to stop SFC from seeking refund order

Hontex International Holdings has failed in a bid to stop the Securities and Futures Commission (SFC) from seeking a court order to refund back to investors the HK$1 billion it raised in its 2009 initial public offering.

8 Jun 2012 - 12:00am

Hontex challenges SFC case for IPO refund

Suspended sports-fabric maker Hontex International Holdings has called on the High Court to reject a lawsuit from the securities regulator seeking to force it to pay HK$1 billion in compensation to investors, arguing that the regulator lacked the hard evidence to prove its allegation the company's prospectus overstated its business.

5 Jun 2012 - 12:00am

Refund blow for Hontex investors

Investors who bought shares in troubled fabric maker Hontex International Holdings have little hope of getting their money back any time soon. The High Court yesterday decided against ordering the company to refund the HK$1 billion it raised through an initial public offering in December 2009.

23 Jul 2011 - 12:00am

Judge delays hearing on Hontex refund

Shareholders in fabric maker Hontex International Holdings will need to wait at least a few more months before they can get their money back from the beleagured company.

High Court Judge Jonathan Harris yesterday decided to hold a hearing on July 22 to sort out how and when the court should intervene in cases related to corporate misconduct and compensation for investors.

16 Jun 2011 - 12:00am

Questions remain in wake of Hontex

Investors in troubled Hontex International Holdings, whose stock has been suspended for more than a year, may get their money back soon. But the flaws in the way our initial public offerings are approved have not yet been fully addressed.

24 May 2011 - 12:00am

SFC wants Hontex cash returned to investors

Investors in suspended Hontex International Holdings are a step closer to getting their money back as the Securities and Futures Commission yesterday applied to the High Court seeking an order to return the company's HK$1 billion initial public offering proceeds to investors.

The court is expected to make a ruling on June 15.

20 May 2011 - 12:00am

KPMG auditor acquitted of bribery counts

KPMG senior manager Leung Sze-chit was acquitted on two bribery charges yesterday in connection with the controversial listing of Hontex International Holdings, though the judge characterised his behaviour as both 'stupid and irresponsible'.

29 Apr 2011 - 12:00am