Business Digest

TIANJIN TIANLIAN TO BUY GAS ASSETS FOR 7.19M YUAN

Piped-gas seller Tianjin Tianlian Public Utilities plans to buy gas distribution assets for 7.19 million yuan from substantial shareholder Tianjin Gas to boost its user numbers and sales.

The assets, including a pipe network, machinery and electronic equipment and vehicles, are used to sell gas to 53 industrial and commercial users and 10,723 residential users in Yangliuqing county of Xiqing district in Tianjin, the company said in a statement. Eric Ng

LINKTONE SEALS INVESTMENT DEAL WITH CHINA AD AGENCY

Linktone, a Nasdaq-listed value-added-service provider of wireless entertainment in China, said it made a strategic investment in nationwide advertising company Beijing Centre National Radio Media last month. Financial details of the deal were not disclosed.

Beijing Centre National Radio Media is the largest advertising agency for China National Radio-1 and 2. It boasts the broadest audience in China and delivers content to Hong Kong, Macau and the United States. Jeff Pao

LAMDUNE SEEKS TO RAISE HK$150M FROM SHARE SALE

Mainland retailer Lamdune International will raise HK$150 million from selling shares to develop a television home-shopping business.

Controlling shareholder Group First will sell 832 million existing shares at 18.8 HK cents each, representing a 1.6 per cent discount to Wednesday's closing price of 19.1 HK cents. The stock was suspended from trading on Thursday. Frederick Yeung