Sound Global: Revived plans for double listing in HK but this time via introduction instead of issuing new shares, which is deemed more favourable as there is no dilution. But proposal still at evaluation stage so unlikely to impact share price just yet. Meanwhile business outlook remain positive after it recently bagged its largest BOT wastewater treatment plant project worth Rmb1.38bn, which will generate income stream over 30 years.
Co has also disclosed that exec chairman, Wen Yibo & his wife have pledged 40m shares to Morgan Stanley. Technical indicators reversing from oversold positions, may head for $0.79 resistance level.
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