Crystallex International

I would love to let it rest but once again you have posted BS that tries to say La Ka-shing is a shareholder in CREC when nothing in your post says that. You have 2 seperate statements and make the leap that because La Ka-shing is a corner stone investor who buys blocks of stock in IPOs he must be an investor in in China Railway Group because their IPO included cornerstone investors. Proof, where is the proof on paper?

Billionaires including Li Ka-shing and Lee Shau Kee often buy blocks of stock in big IPOs. China Railway Group (0390.HK) and Alibaba.com (1688.HK) were among the firms whose big IPOs last year included cornerstone investors.

Here is an actual link and post about La Ka-shing buying into CRCC (China Railway Construction Corp) which is a different company and a competitor to CREC (China Railway Engineering Corp) that is partners with KRY.

This is what I've asked you for. Facts and proof that La Ka-shing is connected with CREC. I will highlight the differences to make it easy for you to see.

http://www.scmp.com/portal/site/SCMP/menuitem.2af62ecb329d3d7733492d9253a0a0a0/?vgnextoid=8ba7fb2748f78110VgnVCM100000360a0a0aRCR D&s=Business

CRCC offer draws record HK$455b
Orders from retail investors top Alibaba sale
Wong Ka-chun and Jonathan Yang
Mar 06, 2008
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China Railway Construction (SEHK: 1186) Corp (CRCC) attracted a record HK$455 billion worth of orders from retail investors for its initial public share offering, breathing new life into the struggling market for new offerings.

Sources said retail investors were demanding 250 times more shares than that allocated to them in the offering, meaning many will miss out on the market debut of the mainland's second-largest infrastructure builder.

The orders surpassed the previous record for a Hong Kong initial public offering - the HK$447 billion for Alibaba.com (SEHK: 1688, announcements, news) in November last year.

CRCC plans to raise up to HK$18.2 billion by selling 1.7 billion H shares.

Hong Kong's listing market this year has been hit by growing fears of a global recession and mounting subprime losses by banks.

Eight listing candidates scrapped their initial public offerings in January amid a market slump.

The overwhelming response to the CRCC offering triggered a so-called clawback mechanism, raising the number of shares allocated to local investors to 425 million, up from an initial 170.6 million.

"The deal is expected to be priced at the top end given the strong demand," said a source.

Institutional investors from around the world had already placed more than HK$330 billion worth of orders for the offering, a source said on Monday.

The company is selling the new H shares for between HK$9.93 and HK$10.70 per share, representing a price-earnings ratio of 26.62 to 28.67 times earnings for this year.

Citi, Citic Securities International and Macquarie Capital are sponsoring the offering.

Nine cornerstone investors, including Lee Shau-kee and Li Ka-shing as well as Yale University in the US, have agreed to buy US$450 million worth of shares.

Despite the strong response, many investors are bracing for further market volatility. The Hang Seng Index has slipped 5 per cent since the start of the week and 16.89 per cent so far this year.

But CRCC's strong market position and earnings potential mean investors see it as a safe harbour in stormy times.

"The company is in high growth mode and has benefited from the tremendous capital expenditure on the railway sector," said Patrick Yiu Ho-yin, an associate director at CASH Asset Management.

Investor Sou, who declined to give his full name, was one of the army of hopefuls lining up for the shares this week. The publishing manager said that he had subscribed for 15,000 shares and was bullish about the company's prospects.

Mr Sou said the stock would jump at least 30 per cent on its debut trading day, scheduled for March 13.

"An infrastructure concept stock like this will surely give decent returns," he said.

The company's main competitor, China Railway Group (SEHK: 0390), surged 27.34 per cent on its trading debut in December and has since delivered a return of 48 per cent.

"It is widely expected that China Railway Construction will price the shares at the top end," a fund manager said.

"Still, it is much cheaper than its comparable peers, such as China Railway Group or China Communications Construction (SEHK: 1800)."

JJ