IPO: PCD Stores Group, a mainland department store chain, plans IPO in Hong Kong next month, seeking HK$2.34 billion. The luxury store chain has filed a listing application to HKEx last month, sources said. Credit Suisse is the sponsor of PCD Stores Group’s listing.
AGTech (8279 HK) announced yesterday that it has acquired 55 per cent of an UK-and-Spain-based Gextech Holdings at about HK$49 million through cash and convertible bonds. Gextech has developed “Fantastic League”, a virtual fixed odds betting football games over multiple distribution channels, such as Internet, broadcast, lottery sales terminals and mobile phones. AGTech hopes to help Gextech expand its business in the mainland market through the acquisition.
Beijing Enterprises (392 HK) announced that it would restructure and expand its business to green economic products such as new energy, water supply and environmental protection. Beijing Enterprise will focus on developing green economic products afterwards as the government said it will inject new assets to the company.
Singapore Airlines’s (670 HK) plan of buying China Eastern Air stake, hoping to expand its mainland market, was banned by the Air China Group two years ago. The airline said it will not resume the plan at this stage and will respect China Eastern Airlines’s merger with Shanghai Airlines.
Hong Kong-traded China Strategic Holdings (235 HK) and partner Primus Financial Holdings Ltd have won the bid for AIG’s Taiwan insurance unit Nan Shan Life at US$2.2 billion (HK$17 billion) with a contract to be signed on Friday. China Strategic said it plans to sell US$1 billion of convertible notes to fund the purchase, according to Bloomberg.
Dalian Port (2880 HK) has previously acquired several ports and issued 1.2 billion A shares each to its parent and public, for a total amount of HK$3 billion. These acts are said to be cost-ineffective by the Citigroup as earnings per share would be diluted.
Eternite International (8351 HK) said it has placed 60 million shares to 111 professional investors for HK$40 million. The Fund raised will be used for expanding its sales network.
unications (215 HK) for HK$1.1799 million at a price of HK$1.311 per share on September 30, accounting for 67.01 per cent stake in Hutchison Telecommunications. This is his seventh time of accumulation since last month.
Lenovo (992 HK) was rated as ‘buy’ by Goldman Sachs as its share price advanced 7.9 per cent. Goldman Sachs said the demand for Lenovo and its sales would rise continuously. The PC maker said its sales revenue rose 15 per cent in the first three days of the golden week holiday, in line with expectation.
Mingyuan Medicare Development (233 HK) was rated as ‘buy’ by ICBC International as it is benefited from the mainland medicare reform. Products of the medicare developer, such as the tumor C-12 checking system, might be included as the basic medicare category in the mainland.
New World Department (825 HK) Store China Limited announced yesterday that its net profit rose 15 per cent to HK$547 million for the first half, compared with a year ago. Earnings per share were 32 HK cents. An interim dividend of 7 HK cents per share was declared. The company said it will keep opening two to three branches every year in China.
Shimao Property (813 HK) chairman Hui Wing-mau has increased his long position in the company from 2.044 billion shares (57.75 per cent) to 2.046 billion shares (57.80 per cent) after he bought a total of 1.804 million shares of the company on September 30 and October 2 at HK$12.912 and HK$12.582 per share on average respectively.
Sinotruk (3808 HK) has appointed three executives Hakan Samuelsson, Karlheinz Hornung and Anton Weinmann from MAN in Germany as the non-executive directors and Pan Qing as the executive director with effect from the closing date.
Seymour Pierce (2309 HK) seeks Grandtop to pay back 2.2 million pounds (HK$27.09 million) in loans in the Grandtop takeover of Birmingham City PLC in 2007. Grandtop has already sought legal advice in Britain and defended for this claim.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
