WONSON International Holdings Ltd, a Hong Kong metals and securities trader, will buy a Chinese shipyard for HK$3.5 billion (US$449 million), aiming to broaden its revenue base on rising Asian demand for vessels.
Wonson will buy Jiangxi Jiangzhou Shipyard from Million King Investments Ltd, it said in a Hong Kong Stock Exchange filing yesterday. It will pay HK$500 million in cash and HK$3 billion in notes convertible into shares at 15 Hong Kong cents each.