Shoe Maker's Massive Flotation
Yue Yuen Industrial (Holdings) Ltd. manufacturer of major brand-name athletic and athletic style footwear, including Adidas, Converse, Nike and Reebok, is seeking a listing on the Stock Exchange. At an issue price of HK$1.18 (US$0.15) per share the company will have a market capitalization of HK$2.6 billion (US$384 million). Trading is expected to commence on July 2.
Fairwood Moves into China
Hong Kong fast-food chain, Fairwood Holdings, is teaming up with two major property developers in China to open 52 outlets in southern China by 1996. Total investment will be about HK$261 million (US$33.5 million) with the company expecting to open seven of the fast-food shops in Guangzhou and Shenzhen in September this year. Fairwood began its China operations in Beijing two years ago, but it sees growth rates in the southern part of the country much higher than in the north.
Science Park Study
A Singapore-based consultancy, Segal Quince Wicksteed Ltd (SQW), has been commissioned to carry out a study into the development of a science park in Hong Kong. The HK$4.2 million (US$540,000) study requires a background analysis of the present and likely future technology infrastructure in Hong Kong and the Asian region and a detailed market analysis to identify the demand for a science park.
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