Monday, November 15, 2010

Info Comm looks to sell exhibition business... finally

Hong Kong-listed Info Communication Holdings Limited issued an announcement last week to the Hong Kong Stock Exchange stating that the company is in negotiations with a "connected person" regarding the disposal of its exhibition business.

This announcement is not much of a surprise given that Info Comm's exhibition business has suffered a certain amount of neglect from management since founder Eddie Leung sold his stake to outside investors in November 2007 and the new investors embarked on a failed bid to acquire a coal mine in Inner Mongolia. The outside investors have no background in exhibitions and seem to intent on taking the listed company in another direction.

Info Communication has a portfolio of B2B trade shows focused on a variety of industrial sectors including metals, plastics, packaging, textile machinery and equipment. Info Comm holds exhibitions in multiple markets in China including in Beijing, Dongguan, Guangzhou, Suzhou and Wuhan. The company also organises shows in Hong Kong, Jakarta, Kuala Lumpur and Ho Chi Minh City.

No word yet on who the connected person is and it is unclear if Eddie Leung still has a stake in the listed company.

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