Hong Kong-based Mediazone Group remains financially sound with ample cash to finance its much-publicized expansion plans, a company communiqué told Wall Street today.
The announcement came hours after the Group’s closed-door annual shareholder’
The Group also denied it was in talks with key American investment houses or with European publishers to sell shares in its New Media and/or its Life Sciences businesses. It acknowledged however, Wall Street operators had presented capital raising offers to its personnel in New York early this year.
“There is sustained interest from leading European and American banks keen on raising cash for the Group through instruments like hybrid securities and convertible bonds but the Board of Directors remains content to differ such arrangements for the time being,” the communiqué read.
“We have always believed in intrinsic growth and our reinvestment strategy has resulted in steady growth, solid profit and bankable progress. While opportunities abound in the Greater China region we will continue to be conservative with our investment strategies with a view to building on debt-free growth and our successful self financing model,” said Group CEO Glenn Rogers.
