China Star Entertainment seeks share issue/buyback permission

    China Star Entertainment is seeking shareholder permission for a general mandate to issue more stock to give directors flexibility in financing transactions such as a potential acquisition should the opportunity arise. However, in a Hong Kong Stock Exchange filing, the company said it has no current plans either to sell stock or to make a purchase.The company has requested authorization to issue shares representing as much as 20 percent of its total share capital of 14,439,687,348. Directors are also seeking a mandate to be able to buy back as much as 10 percent of the company’s share capital.