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Tencent deal throws spotlight on Hong Kong backdoor listings

By Denny Thomas and Michelle Price HONG KONG (Reuters) – A heavily discounted purchase of a loss-making solar-panel maker last week has cast a spotlight on the Chinese takeovers of so-called listed shell companies in Hong Kong, which may be used to sidestep the bourse’s rigorous listing process. China’s No.1 social network and online media company Tencent Holdings Ltd and developer Evergrande Real Estate Group joined forces to purchase Mascotte

Tencent deal throws spotlight on Hong Kong backdoor listings

By Denny Thomas and Michelle Price HONG KONG (Reuters) – A heavily discounted purchase of a loss-making solar-panel maker last week has cast a spotlight on the Chinese takeovers of so-called listed shell companies in Hong Kong, which may be used to sidestep the bourse’s rigorous listing process. China’s No.1 social network and online media company Tencent Holdings Ltd and developer Evergrande Real Estate Group joined forces to purchase Mascotte