Hong Kong-based firms King Crown Group Limited and Fuying Holdings - TopicsExpress

Hong Kong-based firms King Crown Group Limited and Fuying Holdings Limited are expected to complete the acquisition of a total of P500 million worth of shares in listed Oriental Peninsula Resources Group Inc. within the current quarter. “The parties are expected to execute the transaction within the third quarter of 2013,” ORE said in a disclosure to the Philippine Stock Exchange yesterday. It also said the company would execute separate subscription agreements with the two investment firms King Crown Group and Fuying Holdings. King Crown Group is set to acquire P200 million worth of ORE’s primary shares. Fuying Holdings, meanwhile will be purchasing P300 million worth of primary shares. The shares to be acquired are valued at P1 apiece.

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