IPO: UC Rusal, the world’s largest aluminium producer, has secured four key investors for its two-billion-US-dollar initial public offering in Hong Kong, sources said. The so-called cornerstone investors are Malaysian-Chinese tycoon Robert Kuok, New York hedge fund Paulson & Co., European banking family scion Nathaniel Rothschild and Russian state development bank VEB. (Hong Kong Economic Journal P. 2)
Bank of Communications (3328 HK) has confirmed to appoint Niu Ximing, former vice president of Industrial and Commercial Bank of China (1398) as president and vice chairman of the bank. (Sing Tao Finance B2)
Bank of East Asia (23 HK) announced that it is the first foreign bank to set up a branch in Shijiazhuang City of Hebei Province. It has also opened a new branch in Shenyang Province. (Sing Tao Finance B2)
Carpenter Tan (837 HK) has become the best performing stock to list on the mainboard this year as it brought shareholders a paper gain of HK$2,700 per board lot after soaring more than 50 per cent at yesterday’s debut. (Hong Kong Economic Journal P. 2)
China Construction Bank (939 HK) has agreed to acquire 50 per cent stake held by Dutch financial conglomerate ING Groep NV in Pacific Antai Life Insurance Co, to further expand its presence in the insurance sector. The deal still has to be cleared by the regulatory authorities, the lender said. (Sing Tao Finance B2)
China Mobile (941 HK) announced that it has finished the third phase of the TD-SCDMA network construction, expanding the network coverage to 70 per cent of Chinese cities with 100,000 base stations. The company announced on December 27 that company vice president Zhang Chunjiang is under investigation for "violating laws and regulations". (Hong Kong Economic Journal P. 4)
Hong Kong Exchanges and Clearing Limited (388 HK) published its Consultation Conclusions on Certified Emission Reduction (CER) Futures on Tuesday saying that there is no imminent need for a CER futures market in Hong Kong.
Nevertheless, as HKEx reckons the carbon emission markets may become more important in the long run, it will continue to monitor the development of emission policies on the Mainland and in other markets and will consider revisiting the product concept of CER futures if circumstances change.(Hong Kong Economic Times A12)
Hong Kong Health Check and Laboratory Holdings (397 HK) has recorded a net profit of HK$101 million for the first half ended September 30, against a net loss of HK$154 million a year ago. Earnings per share were 26 HK cents. The company proposes no interim dividend. (Sing Tao Finance B2)
Yang Kaisheng, president and vice chairman of Industrial and Commercial Bank of China (1398 HK), will retire from his posts, a source said.
Rumour has it that China Cinda Asset Management Corporation president Tian Guoli is likely to replace him. (Sing Tao Finance B2)
Public Financial Holdings (626 HK) announced that it has declared the second interim dividend of 13 HK cents per share for the year ending December 31. The dividend will be payable in cash on February 25 next year to shareholders. (Sing Tao Finance B2)
Shanghai Zendai Property’s (755 HK) subsidiary Shanghai Zendai Land and SMEG have agreed to form a joint venture to acquire two pieces of land in Nantong city of Jiangsu Province for 530 million yuan. The plots amount to a total floor area of 280,000 square meters. (Hong Kong Economic Times P.7)
Sino-Ocean Land (3377 HK) announced it has acquired entire share of its wholly-owned subsidiary Cityshine Holdings, which has 20 per cent stake in a property company. Sino-Ocean Land would own all shares of the property company upon the deal. (Hong Kong Economic Journal P. 7)
Sinopharm Group (1099 HK) announced that a final special dividend of 325 million yuan will be distributed to CNPGC and Sinopharm Investment by December 31. (Sing Tao Finance B2)
SMI Corp (198 HK) plans to acquire at least ten cinemas and film producing facility companies from a substantial shareholder for HK$1.2 billion. According to the contract, the target companies to be acquired would bring HK$80 million profit to SIM Corp.(Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
