IPO: Russian aluminum giant UC Rusal has filed an application for an initial public offering of shares with the Hong Kong Stock Exchange. The company plans to raise HK$23 billion. It hopes to go listed at the end of the year.
ABC Communications (30 HK) has agreed to acquire Global force for HK$1.3 billion to expand its business to the gold mining and smelting business in the mainland. The deal will be settled by cash, issue of consideration shares and convertible bonds. Yet, details on payment methods have not been disclosed.
Bossini International Holdings (592 HK) has appointed Bess Tsin Man-kuen, wife of controlling shareholder Law Ka-sing, as non- executive chairman with effect from November 1.
Cathay Pacific (293 HK) chief executive Tony Tyler said the past week traffic figures have been the best this year, with the number of passengers flying first class improving. Yet he said overall revenue is still low and it is too early to say whether the industry has recovered.
Rumour has it that Cheung Kong Infrastructure Holdings (1038 HK) plans to buy a British power distribution business from Europe’s biggest power generator Electricite de France SA for more than 4 billion euros (HK$45.2 billion).
China Mobile (941 HK), the world’s biggest telecommunications company by subscribers, is seeking further takeover abroad, particularly in Asia. According to chairman Wang Jianzhou, the company hopes to expand its business in emerging markets and Asia is its first step to expand.
China Resources Cement Holdings (1313 HK), with an offering price ceiling at HK$3.9, its grey market has bottomed out, dropping 11 per cent to close at HK$3.49. Loss per share was HK$820.
HSBC (5 HK) announced it will sell its New York City headquarters at 452 Fifth Avenue for US$330 million. The London-based lender will lease back the whole tower for a year and first to the eleventh floor for ten years, according to a company statement.
Siberian Mining Group (1142 HK) announced that it has lapsed the placing agreement as the company cannot find a suitable guarantee bank and a placing agent for its tranche 2 bonds issue, which is worth of no more than US$70 million.
Tingyi (Cayman Islands) Holding Corp (322 HK) plans to sell TDR, according to Taiwanese media reports. The company will price its TDR at a premium to Tingyi’s valuation in Hong Kong to raise about NT$13 billion (HK$3.12 billion), according to the report. The company plans to apply for the listing before the end of the year.
Electronic home appliances distributor Vision Tech International Holdings (922 HK) plans to acquire a 55 per cent stake in a mainland joint venture that engages in building and operating cemetery business for HK$2 billion.
Wang On Group (1222 HK) said it has reached an agreement with China Agri-products Exchange Ltd to sell its Chinese market management and rental business to the latter. The company plans to buy stake in China Agri-products Exchange Ltd in the market.
Xian Yuen Titanium Reousrces (353 HK) announced yesterday that it plans to acquire an oilfield related business in Jilin province in the mainland for HK$1.5 billion.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
