Following news breaking on Friday regarding a sale of a slice of Birmingham City to Chinese-born Cambodian businessman Vong Pech, there have been many questions online about the purchaser’s identity. Who is Vong Pech, how much money does he have and why does he want to buy this stake in the club?
Birmingham Sports Holdings broke the news on Friday afternoon that they are proposing to sell a 25% stake in BCFC to Oriental Rainbow Investment Ltd, a British Virgin Islands investment vehicle owned by current BSH shareholder Vong Pech. The deal will see Vong Pech become the largest shareholder in the club among other changes.
While Blues secured their Championship status for another year by winning away at Rotherham on Monday, Birmingham Sports Holdings have been doing what it can to secure its own financial status on the Hong Kong stock exchange.
Over the last ten months I have written an occasional series about “Mr King” aka Wang Yaohui. I’ve written about his past and his connections with various entities who have loaned money and gained stock in Birmingham Sports Holdings. In this article, I’m exploring what Wang has been up to of late and his connections to Cambodia.
Dragon Villa will become the second biggest shareholder in Birmingham Sports Holdings (and thus by extension BCFC) once the share subscription announced on Thursday goes through. Their holding will take them above the 10% threshold that ensures that their owner Lei Sutong has to take the much-maligned Owners and Directors Test. Just who are these people?
In November 2017 Vong Pech became the second largest shareholder in Birmingham Sports Holdings when it was agreed by BSH shareholders to go ahead with the proposed school and office project in Cambodia.
Birmingham Sports Holdings have today confirmed to the Stock Exchange of Hong Kong that shareholder approval has been granted for the proposed Cambodia deal at today’s Extraordinary General Meeting.
Birmingham Sports Holdings have confirmed in a set of announcements to the Stock Exchange of Hong Kong that there will be an EGM held on Friday 17 November to acquire shareholder approval for the previously mentioned Cambodia deal.