THE delay in the release of Evergo International and Chinese Estates merger proposal is raising questions in business circles.
The document, which includes recommendations by the financial advisers to the companies' independent directors, was due to be published two weeks ago.
However, it is still awaiting clearance from the Securities and Futures Commission and the stock exchange.
''It's nothing unusual. We still need some more information from the financial advisers,'' said Herbert Hui Ho-ming, head of the stock exchange's listing division.
Most advisers related to the issue are believed to have sent their recommendations to the authorities.
Anglo Chinese director and financial adviser to Evergo's independent directors Wong Kwong-chi refused to disclose advice directors had been given but he confirmed that a letter had been submitted to the authorities a long time ago.
On August 18, Joseph Lau and Thomas Lau, major shareholders of Evergo, proposed the merging of the shares in Evergo and Chinese Estates.
