IPO: Shengli Pipe plans to list on the Hong Kong bourse on December 17 at an offering price of HK$1.80 to HK$2.69 per share to raise HK$1.3 to HK$1.9 billion. Entry fee amounts to HK$2717.14 per board lot. (Sing Tao Finance B4)
Agile Property (3383 HK) said it has agreed to pay about US$202.7 million (HK$1.58 billion) to Aetos Capital to end a dispute over the investment fund’s withdrawal from a real estate project. (Hong Kong Economic Times A14)
China Metal Recycling (773 HK) has received a suspected bomb in its Wanchai office. The suspected bomb was proved to be a fake one after police bomb unit arrived. (Hong Kong Economic Times A12)
China Railway Construction Corp (1186 HK) announced that it has contracted six projects under construction in Dubai, representing about 0.27 per cent of the revenue from its operation in 2008. Yet, the company clarified that these projects have no business relationship with Dubai World and are progressing smoothly. (Sing Tao Finance B5)
Rumor has it that CNPC (Hong Kong) (135 HK) plans to place 450 million new shares at between HK$8.01 and HK$8.41 per share to seek as much as HK$3.785 billion. (Sing Tao Finance B4)
Fairwood Holdings (52 HK) has recorded a net profit of HK$49.3 million for the first half ended September 30, jumping 6.2 per cent from a year ago. Earnings per share were 39.23 HK cents. An interim dividend of 18 HK cents per share was declared. (Sing Tao Finance B5)
Geely Automobile (175 HK) announced that it has reached an agreement with its substantial shareholder Geely Holding that it will acquire and sell production assets from its substantial shareholders. (Sing Tao Finance B5)
Mainland developer Longfor Properties (960 HK) has entered into a credit agreement for a loan of 18 billion yuan (HK$20.42 billion) with China Construction Bank (0939). (Hong Kong Economic Journal P. 10)
Next Media (282 HK) has posted a net profit of HK$122 million for the first half ended September 30, plummeting 41 per cent from a year ago on weak economies in Hong Kong and Taiwan. Earnings per share were 5 HK cents. No interim dividend was declared. (Sing Tao Finance B5)
PYI Corporation Limited (498 HK), a bulk cargo port and infrastructure operation group, announced that it has sold 15 per cent stake in Yangkou Port to Nantong for 300 million yuan. The group’s holdings of the port drop to 60 per cent from 75 per cent upon the deal. (Hong Kong Economic Journal P. 10)
Sea Holdings (251 HK) has sold a property for HK$245 million. The company expects the deal world fetch a profit of HK$50 million. (Hong Kong Economic Journal P. 10)
Shimao Property (813 HK) is developing a project “Tianjin Shimao Eco-City” with Sino-Singapore Tianjin Eco-City Co. Gross area of the project amounts to 1.8 million square meters and is expected to be completed by 2014 year-end. (Hong Kong Economic Journal P. 10)
Smartone Telecommunications (315 HK) announced that it has reached an agreement with Apple Inc. to sell iPhone 3G and iPhone 3Gs in Hong Kong. According to market sources, Smartone may start to sell iPhone before the Chinese Lunar New Year. (Sing Tao Finance B4)
Tianyi Fruit Holdings (756 HK) chairman Sin Ke said the company’s annual production of concentrated fruit juice may reach 30,000 tonnes since the opening of its production base in November. The company reveals that it plans to open a new factory in Chongqing, but it has no plan to raise financing at present. (Sing Tao Finance B5)
Zijin Mining (2899 HK), China’s third-largest copper producer, has agreed to pay 3.4 billion yuan for Indophil Resources NL to gain a stake in Southeast Asia’s largest untapped copper and gold deposit. (Hong Kong Economic Times A14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
