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Fountain Set (Holdings) Limited: Privatise or Stay Public?  
 
Product Ref: 02/143C Company: Fountain Set (Holdings) Limited

Product Type: Case Industry: Consumer Goods

Related Product(s): Teaching Note
Authors: Ko Wang   Su Han Chan   Mary Ho
In January 2002, speculators in the finance community suspected that Ha Chung Fong, Chairman of Fountain Set (Holdings) Limited ("Fountain Set"), might be in the mood to reconsider a previous proposal to privatise the Company. Ha was dissatisfied with the counter's trading volume, and some managers of the firm also believed that the share price did not reflect its true value. In 1995, Fountain Set had attempted to privatise by way of a Scheme of Arrangement under Section 166 of the Companies Ordinance. The scheme was later abandoned due to difficulties in reaching an agreement between the Company's consortium shareholders and also problems in ascertaining the proportion of the holders of the Company's convertible notes. With the redemption of the convertible notes in 1999, financial analysts believed that privatising the Company would not be as difficult as in 1995.
Functional Area : Finance & Investments

Issues: Privatisation, De-listing
Length: 13 pages Country: Hong Kong SAR

Pub. Year: 2002 Level of Difficulty: 2
         
This product type is available in the following language(s):      English
         
Related Information: N/A
 
This case is UGC funded.
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