IPO: Evergrande Real Estate, one of the mainland’s tenth biggest developers, plans to raise at least US$1 billion (HK$7.8 billion) on the Hong Kong bourse as it goes public next month. It will start offering shares on October 22 and listing on November 5.
Huafeng Group (364 HK) said it would issue convertible bonds worth of HK$150 million to raise HK$145 million for repayment of loan and working capital. The three-year bonds are placed at HK$0.28 per share, an 11.11 per cent discount to its closing price at HK$0.315 yesterday.
Integrated Distribution Services (2387 HK) said it has acquired all stake in an Indian logistic company PT WestSide Agritama for US$5 million (HK$39 million). Integrated Distribution Services plans to pay the deal with internal capital reserve and bank lending.
New World China Land (917 HK) announced yesterday that it will partner with parent New World Development Co. (0017) to raise at least HK$4.89 billion at a price of HK$2.55 per share, a 38 per cent discount to its closing price. The company may use the money to refinance borrowing, including the possible redemption or repurchase of convertible bonds, according to the statement.
PetroChina (857 HK) and British Petroleum have reached an agreement to jointly develop the biggest oilfield in Iraq. The twenty-year contract involves US$ 15 billion (HK$117 billion) investment.
Sinolink Worldwide Holdings (1168 HK) has placed 290 billion shares through UBS to raise no less than HK$540 billion fund. The placement is priced at a range of HK$1.87 to HK$1.94 per share, a discount from 4.9 to 8.3 per cent to its closing price at HK$2.04.
Standard Chartered (2888 HK) has filed its application to the Securities & Exchange Board of India (Sebi) for an issue of Indian depository receipts (IDRs), according to India press. The deal is subject to Sebi’s approval. It is rumoured that StandChart aims to raise no less than US$1 billion (HK$7.8 billion) through the deal.
Tsingtao Brewery (168 HK) expects to record a 75 to 85 per cent net profit growth for the first quarters ended September 30. Net profit of the corresponding period last year was 700 million yuan.
Asia Coal (835 HK) has agreed to buy coal assets in China, including a mine in Shanxi province, for US$300 million (HK$2.33 billion) from Wonder Champion Investment, The mine has an estimated coal resources of up to 95.3 million tonnes. Asia Coal will fund the deal by issuing 5-year convertible bonds to Wonder Champion. Trading of its shares will resume today.
Country Garden (2007) said its property sales in the golden week, which was the first eight days of October, surged 63 per cent from last year to reach 2.2 billion yuan. In terms of gross floor area, sales jumped 83 per cent to 410,000 square meters.
Global Sweeteners (3889 HK), a refined product and sweetener manufacturer, expects its gross margin to rise in the second half on rising exports and controlling cost. he company has recorded a 79 per cent dive in its net profit and an 8.3 per cent decrease in its gross margin in the first half. It believes the gross profit in the second half will surge to the 20 per cent level which will be similar to that before the financial tsunami. The sweetener manufacturer also said it will expand its business in beef market and enter the Hong Kong market in the first quarter next year.
Shoe seller Le Saunda (738 HK) a 30 per cent growth in sales for the first seven days of the Golden Week in China while some Hong Kong and Macau branches seeing sales go up by more than 50 per cent. et, its gross margin in Hong Kong has dropped a little comparing with last year due to its competitive pricing strategy.
Sa Sa (178 HK) an over 30 per cent surge in sales in Hong Kong and Macau during the 8-day Golden Week holiday. The number and average value of each transaction posted a double-digit growth in Hong Kong and Macau. The company attributed the growth to the tourists coming from China.
Rumoured has it that Shimao Property (813 HK) and a Fujian-based real estate company Xiemen Real Estate would be the basic investor of a new stock Yuzhou PPT (1628) which will go listed on the Hong Kong bourse this Wednesday. The two companies would subscribe US$30 million (HK$234 million) worth of Yuzhou shares
Vodone (82 HK) has agreed to buy a 70 per cent stake in the mainland-based Dragon Joyce Group for 168 million yuan. The deal will be settled in cash of 40 million yuan and an issue of 100 million new shares at HK$1.50 yuan per share.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard