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Asia Ceramics Holdings

  • BY: Andrew Hore |
  • POSTED: 28/03/2012 |

Better Group (Holding) Co. Ltd has invested £492,000 in Asia Ceramics Holdings via a placing at 72.5p a share.

The shares are currently trading at 72.5p each, valuing the supplier of tiles to the domestic Chinese market at £7.97m.

Better Group, which has increased its stake in Asia Ceramics to 6.17%, is a tiles manufacturer in China and it has three production lines. Hong Kong-based Better Group also produces sanitary ware and glass mosaics. Better Group had held shares at the time of the flotation of Asia Ceramics in September 2010 but it appears to have sold them. Better Group entered into orderly market agreement with Asia Ceramics’ brokers on 31 August 2010 prior to the flotation but there was no declared holding in the prospectus so it must have been less than 3%.

Asia Ceramics chief executive Dr Dingxin Pu is a former general manager of Better Group and some of Asia Ceramics‘ management also worked for the company in the past.

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