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Hong Kong's Ming Pao debuts on Malaysian exchange

Tue Apr 29, 2008 9:14pm EDT

Stocks

   

KUALA LUMPUR, April 30 (Reuters) - Hong Kong media group Media Chinese International (0685.HK), formerly known as Ming Pao, debuted on the Malaysian exchange as a dual-listed firm on Wednesday, the finishing touch to a merger agreed last year.

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The Malaysia-listed shares in Media Chinese International opened at 1.09 ringgit per share, on par with the last-traded price of the main Hong Kong stock, which closed on Tuesday at $HK2.70 (34.7 U.S. cents) a share.

In January last year, Ming Pao, controlled by Malaysian tycoon Tiong Hiew King, announced an all-share merger with Malaysian Chinese-language newspaper publishers Sin Chew Media Corp and Nanyang Press Holdings.

The enlarged group owns five newspapers, including Hong Kong's Ming Pao Daily, Malaysia's biggest Chinese daily, Sin Chew Daily, Malysia's Nanyang Siangpau, China Press and Guang Ming Daily. ($1=7.792 Hong Kong Dollar)

(Reporting by Mark Bendeich, editing by Niluksi Koswanage)

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