Qian Feng: proposed 98m new share placement (20% dilution) to Asia Brand Capital at issue price of $0.068, which is at 9.3% discount to $0.075 last close. Net proceeds of $6.6m to be used to carry out Group’s intention to manage franchise operations of international reputable brands. Asia Brand will provide strategic, business and brand mgt advice to QF, and may nominate a director to the Board…
Based on FYJun10 numbers, EPS will be reduced to RMB1.7 cts from RMB 2.04 cts, while NTA/sh will be reduced to RMB 75 cts, from RMB83 cts. Post-placement, QF will trade at 22.3x PE, 0.5x PB.
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