http://www.businesstimes.com.sg/breaking...r-20140710
PUBLISHED JULY 10, 2014
Kwek Leng Beng optimistic about China's property sector
BYANGELA TAN
angelat@sph.com.sg
KWEK Leng Beng, executive chairman of Hong Leong Group Singapore and chairman of Millennium & Copthorne Hotels plc (M&C UK) said the investment in IPO- aspirant, First Sponsor Group (FSGL), is one of its growth engines in China - ST PHOTO: MARK CHEONG
KWEK Leng Beng, executive chairman of Hong Leong Group Singapore and chairman of Millennium & Copthorne Hotels plc (M&C UK) said the investment in IPO- aspirant, First Sponsor Group (FSGL), is one of its growth engines in China.
"Besides building M&C UK's brand proposition in this key market, it enables us to own and manage hotels developed by this platform through mixed development,'' Mr Kwek said.
Hong Leong Group is one of FSGL's key controlling shareholders via M&C UK.
Established in late 2007, FSGL has three key operating segments in the PRC, namely, property development, property holding and property financing.
http://www.businesstimes.com.sg/breaking...o-20140710
PUBLISHED JULY 10, 2014
First Sponsor Group offers 34.05m shares at S$1.50 each in Singapore IPO
BYKELLY TAY
kellytay@sph.com.sg @KellyTayBT
FIRST Sponsor Group Ltd (FSGL) - a developer of residential and commercial properties in China - on Thursday offered 34.05 million shares at S$1.50 each for mainboard listing in its initial public offering (IPO) in Singapore.
The invitation represents about 5.8 per cent of the group's enlarged share capital.
About 3.8 million shares will be offered for public subscription and 30.25 million will be placed.
FSGL - whose key controlling shareholders are Hong Leong Group Singapore through its shareholding interests in Millennium & Copthorne Hotels plc, and Tai Tak Estates Sendirian Berhad - expects to have a market capitalisation of about S$884.7 million when listed on July 22.