IPO: New listing candidate Shandong Taifeng Textile (873 HK) hopes to raise HK$78 million on the Hong Kong bourse next month. Its IPO will kick off on December 1. (Hong Kong Economic Journal P. 2)Shengli Oil& Gas passed hearing of its listing last week and is going to float 720 million shares for US$200 million (HK$1.56 billion), its IPO will kick off on December 8. (Hong Kong Economic Journal P. 2)
Brightoil Petroleum (933 HK) has entered into a MOA with Nisos Shipping Co. Ltd. to acquire an oil tanker for US$52.5 million (HK$410 million). (Sing Tao Finance B3)
Tycoon Li Ka-shing raised his stake in Cheung Kong Holdings Ltd. (1 HK) to 40.66 per cent last Thursday, according to a statement filed to the Hong Kong stock exchange. Li bought 1.2 million shares at an average price of HK$97.049 for HK$116.9 million. He also bought 208,000 Hutchison Whampoa Ltd. (0013) shares on Thursday at an average price of HK$54.234, leaving his stake in the blue-chip conglomerate to 51.43 per cent. (Sing Tao Finance B3)
China Investment Corp has agreed to buy US$400 million (HK$3.1 billion) of stock in China Longyuan Power Group Corp’s (916 HK) Hong Kong initial share sale, as the sovereign wealth fund steps up investments in energy and commodities companies.
(Hong Kong Economic Journal P. 2)
China Resources Power’s (836 HK) wholly-owned subsidiary CR Power Nansha has entered into an acquisition agreement with Guangzhou Nansha Investment in relation to an acquisition of 30 per cent stake in Guangzhou Thermal Power for 1.184 billion yuan. CR Power Nansha currently holds 70 per cent stake in Guangzhou Thermal Power. (Sing Tao Finance B3)
China Telecom (728 HK) is in advance talks with BlackBerry about the sales of Blackberry handsets in China. The operator plans to sell CDMA Blackberry handsets by the end of the year or early next year, as it tries to gain share from the other two mobile telecom rivals, a source familiar with the situation said. (Sing Tao Finance B3)
Country Garden (2007 HK) announced that its property sales in Shanwei has kicked off on November 18. The total sales for the first three days have reached 550 million yuan. (Sing Tao Finance B3)
HKMC, a subsidiary of Far East Golden Resources (1188 HK) in the US, will introduce Eco Car technology to factory on the mainland. The company expects the factory to start producing in 2013 and have an annual production of 3 million units of cars
(Sing Tao Finance B2)
HSBC (5 HK) plans to issue 1.25 billion euro senior unsecured fixed-rate 7-year bond, with mid-swaps plus 67 basis points, pricing later on Monday, sources said. (Hong Kong Economic Journal P. 4)
KWG Property (1813 HK) has sold 155 and 170 units of its Chengdu and Suzhou projects and has recorded a sales income of 550 million yuan and 150 million yuan respectively. (Hong Kong Economic Journal P. 7)
Long Success International (8017 HK) announced that it will focus on developing environmentally friendly paper on the mainland as it is highly potential in China’s market. The company has previously formed a joint venture with Zao Zhuang Hua Jin Paper to manufacture coated white top kraft liner board.
RBI Holdings (566 HK) announced that its subsidiary Apollo Solar Energy Technology Holdings Limited has gained two contracts, which totalled 175 megawatt and 1 billion yuan. The company has guaranteed revenue of US$15 million and US$40 million for the second half and first half of 2010. (Sing Tao Finance B3)
Growth of mortgage insurance of Standard Chartered (2888 HK) for the first three quarters has doubled, 60 per cent up compares with last year. The lender believes property market will turn more active as economy recovers. (Hong Kong Economic Times A12)
The Children’s Investment Fund (TCI) (823 HK) has cut its long position in Link REIT through two funds by 3.05 million units for a total of HK$52.4 million at a price at HK$17.01 per unit. (Hong Kong Economic Journal P. 6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standar
