Home / Knowledge / News / Fashion / Man Sang completes China-Metro merger
Man Sang completes China-Metro merger
Mar '10
Man Sang International Limited (NYSE Amex: MHJ), which has been renamed China Metro-Rural Holdings Limited, announced that it completed the merger with China Metro-Rural Limited in an all stock transaction, pursuant to which Creative Gains Limited, formerly a wholly-owned subsidiary of MSBVI, merged with and into China Metro with China Metro continuing as the surviving company and a wholly-owned subsidiary of MSBVI. The name change was effected in connection with the completion of the merger.

"We are pleased to announce the successful completion of the merger and are prepared and excited for the future," said Cheng Chung Hing, Ricky, President and Chairman of the Board of Directors of MSBVI. "We look forward to combining China Metro's and MSBVI's operations and joining China Metro in its development and completion of the integrated, agricultural logistics and multi-functional project, known as China Northeast Logistics City, that will facilitate exhibition, trading, logistics, warehousing, commercial and residential housing in Northeast China."

Under the terms of the merger agreement, the China Metro shareholders received approximately 574,432 ordinary shares of MSBVI for each ordinary share of China Metro they owned, with cash being paid in lieu of fractional shares. MSBVI issued a total of 57,443,234 ordinary shares to the China Metro shareholders in order to acquire China Metro. Upon completion of the merger, the pre-merger ordinary shares of MSBVI remained outstanding and represented approximately 10% of the outstanding ordinary shares of MSBVI, whereas the ordinary shares of MSBVI issued to the China Metro shareholders represented approximately 90% of the outstanding ordinary shares of MSBVI.

MSBVI also announced today that Mr. Sam Sio Kam Seng, Chairman of China Metro, has joined MSBVI's Board of Directors as Executive Director and Deputy Chairman and was appointed Chief Executive Officer of MSBVI. Mr. Sio will provide invaluable insight and guidance as MSBVI continues to implement its business strategies and best corporate governance practices.

"MSBVI is a company with creative and visionary ideas. The strong leadership of the management of MSBVI, supported by its excellent marketing and operation teams, has already built up a successful business in the manufacture and wholesale of pearls and jewelry products, as well as development and investment in trade centers and properties. It is my great pleasure to join MSBVI as a member of the Board. I look forward to working very closely with all my colleagues from MSBVI," said Mr. Sam Sio. "We are fully confident of the synergy of the merger. The combination of the drive and the people of the two companies will accelerate our business momentum and create a strong and prosperous future for MSBVI. I look forward to moving ahead constructively and working closely with the Board to enhance shareholders' value," he continued.

Mr. Sio holds a Bachelor of Science degree in Construction Management and a Master of Business Administration degree. He is also a member of Chartered Institute of Buildings, a member of Society of Environmental Engineers and an associate of Chartered Institute of Arbitrators; a Chartered Builder of United Kingdom. He has over 20 years of experience in insurance and senior management.

Must ReadView All

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Kaizad Hansotia, GetNatty

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Varsha Wadhwa, VW

Varsha Wadhwa

Coming from a family that ran a business of jute and linen mills since...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search