Thursday, December 17, 2009

Hong Kong Stock Market Wrap Dec. 15th, 2009

IPO: Failed to pass previous hearings, UC Rusal will attend IPO hearing again tomorrow in order to go public by January next year. (Hong Kong Economic Times A14) Coal miner SouthGobi Energy Resources, which has listed in Canada in 2003, plans to raise as much as HK$4 billion on the Hong Kong bourse by issuing 20 to 25 per cent extra shares. (Hong Kong Economic Times A14)

Artini China (789 HK) announced that it has placed 70 million shares at a price of HK$0.78 per share, a 14 per cent discount of the closing price yesterday, to raise HK$52.4 million. (Sing Tao Finance B2)

Asia Financial (662 HK) announced that it has sold more than 90 per cent units in the stage of pre-sale in a Suzhou property project for 500 million yuan. The company holds more than 20 per cent stake in the project. (Sing Tao Finance B2)

CCT Telecom (138 HK) has sold a unit of 1470 square feet for HK$3.3 million. The company said sales beat last year and has recorded transactions worth HK$37 billion so far.
(Hong Kong Economic Journal P. 9)

China Construction Bank (939 HK) said it plans to sell 20 billion yuan worth of fifteen-year subordinated bonds on the interbank market to replenish its capital. (Hong Kong Economic Journal P. 4)

China Life Insurance (2628 HK) announced that its accumulated premium income for the first eleven months amounted to 274.4 billion yuan, declining 2.28 per cent compared with the corresponding period last year. (Sing Tao Finance B2)

China South City (1668 HK) said it has returned to the black and recorded a net profit of HK$245 million for the first half ended September 30. The company proposes no interim dividend. (Sing Tao Finance B2)

Fubon Bank (Hong Kong) (636 HK) announced that its net profit for the year ending 31 December is expected to be substantially below that of the previous year due to impairment of Lehman Minibonds and further charges for impaired loans. (Sing Tao Finance B4)
Power plant operator GCL-Poly Energy (3800 HK) said yesterday that it aims to set up a joint venture with China Investment Corp to invest in solar power generation stations overseas early next year. The JV would have a registered capital of US$500 million. (Hong Kong Economic Journal P. 4)

Geely Automobile’s (175 HK) subsidiary DSI Holdings Pty Ltd is acquiring all or partial option deed from DSI Korea. Geely Automobile said the parties agreed to extend the expiry date of the option deed of DSI Korea from December 15 to December 19. (Hong Kong Economic Journal P. 4)

Gome Electrical (493 HK) Appliances announced that it has agreed to sign an agreement to refinance the original loan of 3.6 billion yuan through the lending bank to Beijing Zhansheng for two years with a current interest rate of 4.86 per cent per annum. The original loan was extended to Beijing Zhansheng for the purchase of the entire registered share capital of Dazhong. (Sing Tao Finance B2)

Midland Holdings (1200 HK) has received emails from four staff saying it was the last day of their employment yesterday. The four account for two third of the department of public relations. The company did not comment on their action but said it will not affect its daily operation. (Hong Kong Economic Journal P. 9)

Modern Beauty (919 HK) Salon Holdings announced that it has removed Ms. Yuen Siu Ping as executive director with effect from 15 December since she has failed to perform her duties as an executive director and her business objectives are not in line with the company. (Sing Tao Finance B2)

Swire Pacific (19 HK) plans to spin off and list its property unit on the Hong Kong bourse to raise up to HK$31 billion next year. The proceeds will be used to finance its mainland property business mainly, according to market sources. (Sing Tao Finance B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard