The media giant Ma family intends to privatize the eastern press total involved in the capital of 878 million

Every journalist Li Lingxia in Hong Kong media industry's influential newspaper giant, the family, proposed a total of HK $878 million, to be owned by the Oriental Daily, the sun and other influential newspapers in Hong Kong, the company Oriental Newspaper Group (00018,HK) privatization. Since the fourth quarter of last year, in the Hong Kong stock market, "privatization" This topic is very popular, has a number of listed companies to propose privatization.　　Although the privatisation of companies such as PCCW (00008,HK) and crocodile-shirt (00122,HK) has been unsuccessful for a number of reasons, this has not stopped the willingness of large shareholders in other listed companies to privatize. Following last week's main health products, the four-pass holding (00409,HK) announced that its big shareholder said "the Village village head" Duan Yongji proposed a total of HK $553 million to privatize the four-pass holding, after a few days, another company proposed privatization plan.　　In Hong Kong, the highly influential newspaper giant, the Malay family, proposed a total of HK $878 million to privatize the Oriental Newspaper Group (00018,HK), a listed company with several influential newspapers in Hong Kong, such as the Oriental Daily and the sun.　　High Premium acquisition 878 million Oriental Press group announced that its controlling shareholder, the Horse Family's trust fund MA Briers Sfamilytrust, proposed a voluntary and comprehensive acquisition, will be 0.95 Hong Kong dollars per share of cash on the privatization of Oriental Newspaper group. It is reported that the Ma Family Trust and its concerted action is currently holding a total of 1.47 billion shares of Oriental newspaper group, accounting for the company's total issued shares of about 61.45%.　　If the proposed privatisation proposal were passed, the family would have to pay HK $878 million for that. It is understood that the horse family proposed the purchase price than the Oriental newspaper shares a larger premium.　　Among them, more than the eastern Press group before the suspension of the closing price of 0.82 Hong Kong dollar premium of 15.9%; the average closing price of the 10-day trading day for the last trading day was 17.3%, and the average closing price for the 30-day trading period for the last session was as high as 0.77.　　In an interview with the Daily Economic news, a Hong Kong-based Securities analyst said that, in fact, the overall mood in the market is now warming, the privatization proposed by major shareholders requires a large premium to avoid the opposition of minority shareholders as far as possible. It is particularly noteworthy, however, that for the majority shareholder of the Oriental Press Group, the purchase price of HK $0.95 per share should actually be relatively cheap.　　As at March 31, 2009, the net asset value of the company was HK $1.16, and the acquisition price was about 18.1% per share of the net asset. The aim is to save management costs despite the proposed privatization, the MA family has made it clear that it will continue its existing operations in the Eastern Press group and that it will not be able to provide the group's existing operations and management and staffMake any major changes in the arrangements. On the rationale for privatization, the horse family suggested that the Oriental Press group had a daily average turnover of 2500835 shares in the previous 6 months, equivalent to 0.1% per cent of the company's total issued share capital and a low liquidity market. In the past 6 months, the stock price was at a maximum of HK $0.83, which has long been below the group's overall net asset value.　　The Ma family believes that the privatization proposal will provide a chance for the small shareholders of the company to offer their cash.　　At the same time, the Oriental Press group said that in calculating the cost and management resources involved in maintaining the status of listed companies, the Board considered that it was not cost-effective to maintain the listing status and that privatization could save the cost and management resources. In addition, in order to encourage minority shareholders to agree to privatization proposals, the Oriental Press Group in its bulletin also stressed that the global financial tsunami affected by all walks of life to cut spending, Oriental newspaper Group's newspaper and website advertising revenue will continue to be adversely affected, coupled with the need to cope with the market competition in the pay newspaper, the　　The threat of outdoor media and other media in the Internet is also growing.　　Although the publishing industry has limited space to expand, the east has shifted focus to the online business, but the announcement revealed that as the development stage, even if advertising revenue has increased, but still not reach the balance of payments. News background The Oriental Press Group is one of the most important newspaper groups in Hong Kong, with a number of major Hong Kong media such as the Oriental Daily, the sun and the portal on.cc. The Oriental Daily was founded in 1969 and became the largest and most populous newspaper in Hong Kong since 1977.　　The Sun was founded in 1999, with young readers as its main target, with sales and readership close to the Oriental daily. The founder of the Oriental Newspaper group, such as the Ma Jiangen brothers, according to the former media reported that the Ma Brothers is Hong Kong's famous drug lords, is still wanted. Today, the Eastern Press group is still a member of the Ma family, whose family members share 1.47 billion shares of the eastern Press group, accounting for about 61.45% of the company's total issued share capital.