Berjaya Holdings (288 HK) has acquired Cosway Group from its parent for HK$2.23 billion. The deal will be settled in cash, shares and convertible bonds. The company would change its name from ‘Berjaya Holdings (HK) Limited’ to ‘Cosway Corporation Limited’ after obtaining approval from its shareholders.
Bosideng International’s (3998 HK) subsidiary has signed an agreement with a mainland apparel brand to buy 80 per cent stake in Shanghai Bozi for no more than 88 million yuan. The mainland brand has more than 200 sales points in China and has exports to Japan and Australia.
Chaoda Modern Agriculture (682 HK) announced yesterday that its net profit rose 9 per cent to 3.986 billion yuan for the six months ended June 30. Earnings per share were 1.55 yuan. An interim dividend of 5 HK cents per share was declared.
Tycoon Li Ka-shing accumulates stake in his property flagship Cheung Kong (1 HK) to 40.43 per cent from 40.41 per cent on Friday, according to the Hong Kong stock exchange. He bought 410,000 shares at an average price of HK$98.10 per share. This is the ninth time of his accumulation of stake since the middle of September.
China Insurance International Holdings announces that the accumulated premium income of its subsidiary, Tai Ping Life (966 HK) Insurance Company Limited, amounted to 16.4 billion yuan for the first nine months, a 5.66 per cent increase compared to 15.5 billion yuan for the corresponding period of 2008.
Hopewell Holdings (54 HK) said its Lee Tung Street co-redevelopment project and Hopewell Centre 2 are both progressing as planned. The developer said the projects involve HK$9 billion investment yet it has no financing pressure.
HSBC (5 HK) chief executive Michael Geoghegan said HSBC hopes to list its shares on the Shanghai bourse next year, which will be the one of the first overseas companies to do so, according to Reuters. Rumour has it that HSBC plans to raise US$3 billion to US$7 billion (HK$23.4 billion to HK$54.6 billion) in China, people familiar with the matter said.
Maoye International (848 HK) has agreed to purchase 93.7 per cent shares of Taizhou 100 for 277 million yuan.
The deal will be settled in cash.
New World Development (17 HK) expects its luxury home ‘The masterpiece’ in Tsim Sha Tsui to have 10 to 20 per cent sales from mainland buyers. The sales volume has reached HK$6.6 billion while 231 units out of total 345 units have been sold. The remaining units are expected to be sold before the end of June 2010.
PICC (2328 HK) announced that its premium income for the first nine months was 95.722 billion yuan, surging 16.89 per cent compared with a year ago.
Fujian-based developer Powerlong Real Estate (1238 HK) closed at HK$3.00 in the grey market yesterday, 9.09 per cent higher than its offer price of HK$2.75. Shareholders posted a paper gain of HK$250 per board lot of 1,000 shares. As the retail portion of its iniial public offering was undersubscribed, the developer slashed its offer price well below its original indicative range of HK$3.30 to HK$4.90.
Sino Prosper Holdings (766 HK) has set a frame agreement to take over the exploit right of an inner Mongolian gold mine and a mine factory which produces 50 tonnes of gold per day for no more than 140 million yuan.
Television Broadcasts (511 HK) announced that its subsidiaries have reached an agreement with MEASAT Broadcast Network Systems, a Malaysian registered company, to prolong a management contract for three more months until December 31.
Tian An China (28 HK) announced it has sold its subsidiary Commander to MH (Singapore) at the nominal consideration of HK$7.80. Commander agreed to offer the put options to MH after the deal.
Yuzhou Properties (1628 HK) said it would launch its initial public offering next Tuesday. The listing candidate starts roadshow today to raise US$300 million to US$500 million (HK$2.34 billion to HK$3.9 billion) in Hong Kong.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
