Government just throwing good money after bad

On Thursday evening, after the market's close, Hong Kong Exchanges and Clearing snapped out a HK$7.75 billion share offering.

The proceeds will go towards funding HKEx's HK$17 billion acquisition of the London Metal Exchange, originally financed with bridging loans.

Among the offering's eager buyers was Hong Kong's financial secretary, who scooped up HK$450 million worth of the new shares.

via Business feed http://www.scmp.com/business/article/1095853/government-just-throwing-good-money-after-bad