14
1989 Q3 CITIC (HK) invested
1989 Q4
in
a joint venture with an
South Korean company in
Hong Kong to manufacture plastic products.
Italian company and a
CITIC (HK) acquired 38% of the Hong Kong Dragon Airlines Ltd.'s expanded issued share capital of
HK$980 million, making it the largest shareholder
of the Airline.
1990 Q1
1990 Q4
CITIC (HK) agreed to purchase 20% of the Hong
Kong Telecommunications' issued share capital at
a price of HK$10 billion.
As a means of obtaining a listing in the Hong
Kong Stock Exchange and thus gaining access to a further channel of fund raising, CITIC acquired
49% of the Tylfull Co. Ltd.'s expanded issued
share capital of HK$91.598 million.
CITIC (HK) formed a consortium with Montedipe, a
subsidiary of the Enimont Group in Italy, and
Yukong Ltd., the largest oil company in South
Korea, to invest in a polystyrene plant in the
Yuen Long Industrial Estate. The consortium,
named as the Hong Kong Petrochemical Co. Ltd.,
put up a total investment of HK$1.17 billion, of
which CITIC had a stake of 35%. The first phase
of the project was expected to be in operation in
May 1992.