Rumour has it that China Mobile (941 HK) plans to spend more than 30 billion yuan to subsidize handsets next year, in order to compete with China Unicom. The proposed amount is a triple to that this year.
China Water Affairs (855 HK) said it has set a framework to spin off a non-fully-owned subsidiary for a separate listing on the Hong Kong or other bourses.
China Unicom (762 HK) announced yesterday that a 3G iPhone (8GB) without network service will be priced at 4999 yuan. The mobile operator has also introduced a student package which costs 66 yuan per month for using its network.
Dah Chong Hong (1828 HK) has agreed to buy a land lot in Yuen Long by acquiring the shares of Rich Crystal , a wholly-owned subsidiary of Dah Chong Hong’s parent CITIC Pacific Limited (0267), at HK$8.00, with its debt amounting to HK$70.76 million.
The land lot will be used to develop a motor service centre.
Datang International Power (991 HK) said power generation in the first nine months rose 5.63 per cent to 102 billion kilowatt-hours.
EPI holdings (689 HK) plans to raise HK$177.5 million from a share placement of up to 820 million shares at a price of HK$0.225 each.
Huaneng Power (902 HK) said power generation in the first nine months rose 3.08 per cent to 145 billion kilowatt-hours. The company attributed the change to the productivity of its newly acquired system.
Hutchison Whampoa (13 HK) has agreed to sell its subsidiary Vanda Group, a technology solution company, to US A Vnet Inc on October 5. The buyer hopes to expand its business in China through this acquisition.
Hutchison Telecom (2332 HK) has agreed to sell its Thailand business to Thailand telecom operator CAT, according to a Thailand newspaper. The two companies have signed a memorandum of understanding and according to the plan, Hutchison would sell its four telecom operator subsidiaries to CAT.
Ping An Insurance (2318 HK) has recorded a 35 per cent increase in its premium to 133.5 billion yuan for the nine months ended September, up from 99.2 billion yuan for the same period last year.
Poly (Hong Kong) Investments (119 HK) plans to raise about HK$3.078 billion through a share placement, sources said. The placement size was increased to 380 million shares from 320 million shares at HK$8.1 each since it has been oversubscribed for several times.
Shanghai-based solar silicon material manufacturer Comtec Solar Technology (712 HK) will start share subscriptions for its initial public offering in Hong Kong next Monday with an entry fee of HK$6262.56. The company will use proceeds to expand production capacity, purchase polysilicon, and fund research and development, the report said.
Solartech International (1166 HK) plans to acquire a gold-copper mine in Mongolia. The valuation price is still under consideration. The deal will be settled by cash, news shares and convertible bonds.
Wheelock Properties (49 HK) has agreed to sell a non-core asset for HK$935 million to Emperor International Holdings (0163). The podium, comprising the basement, the lower ground and upper ground floor, second floor and third floor, and the roof of the podium, of Healthy Gardens, 560 King’s Road in North Point, has a total gross floor area of approximately 125,400 square feet.
The Fujian-based Yuzhou Properties (1628 HK) is selling 600 million shares, or 25 per cent of its enlarged share capital to raise up to HK$2.2 billion from its Hong Kong initial public offering. Price per share was set between HK$2.70 to HK$3.70.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
