A listed company in Hong Kong intended to acquire
controlling shares of a private mining company in the PRC.
The transaction contemplated constitutes a very
substantial acquisition (VSA), valuation of both the
acquirer’s and the acquiree’s property interests
(including leasehold interests) are required in the circular. Greater China Appraisal took
the role of independent property valuer. Property valuation report has
been prepared in accordance with the requirements of the Rules
Government the Listing of Securities on The Stock Exchange of Hong Kong
Limited in Chapter 5 and Practice Note 12.
Under Chapter 18 of the Rules Government the
Listing of Securities on The Stock Exchange of Hong Kong Limited, a
report by technical advisor with respect to the estimated reserves has
to be included in the circular. Greater China Appraisal worked as project coordinator to
liaise with the technical advisors, to ensure consistency of
information distributed by the Company, to monitor the progress of
expert’s reports and to ensure every piece of materials goes
to the right person on time.
In addition, Greater China Appraisal also provided opinion on the
business value of the target mining company for corporate internal
reference. The target mining company was in possession of 2 mining