IPO: The Macau casino joint venture between MGM Mirage Inc. and a scion of the city’s top casino-owning family has begun the process of vetting investment banks to work on a Hong Kong initial public offering that could raise up to US$1 billion, a report said Friday. (Hong Kong Economic Times A9)
Air China (753 HK) said it would gain 1.5 billion yuan injection from parent for the acquisition of stakes in its cargo business. (Hong Kong Economic Journal P. 4)
China Eastern Airlines (670 HK) said results for last year was back to the black due to recovery of the industry, drop in fuel price and support from government policies. The loss in 2008 amounted to 15.2 billion yuan. (Sing Tao Finance B11)
China Pacific Insurance (2601 HK), the country’s third-largest life insurer, said its life insurance premium income and property insurance in 2009 was 67.6 billion yuan and 34.2 billion yuan respectively. (Hong Kong Economic Times A9)
SALES DOUBLE China Resources Land (1109 HK) announced that its contracted sales for 2009, amounting 2.156 million square meters, has reached 25 billion yuan, rocketing 2.19 times year-on-year. (Sing Tao Finance B11)
Guangdong Nan Yue Logistics (3399 HK) said its results for the 12 months ended December 31 last year is expected to decline significantly as compared to that for the same period in 2008 and a loss is expected to incur. The expected loss is mainly due to the impairment provision to be made in respect of the significant risk of prepayments made by the group to three enterprises in Tangshan for purchase of steel. (Hong Kong Economic Times A9)
Kam Hing International (2307 HK) announced it has placed 30 million shares at HK$2.3 apiece to raise HK$64.9 million, a 6 per cent discount on the closing price yesterday. The proceeds would be used as working capital and for development of its Madagascar Iron ore project. (Sing Tao Finance B11)
Artini China (789 HK), a retail chain operator and fashion accessories maker, said it will issue HK$20 million worth one-year, zero-coupon convertible bonds to South Africa-based Standard Bank to raise HK$18.5 million for general working capital. (Hong Kong Economics Times A14)
Asia Energy Logistics Group (351 HK) plans to place 1.5 billion existing shares and subscribe 1.5 billion new shares at HK$0.159 each to raise HK$230 million. (Hong Kong Economic Journal P4)
BBMG (2009 HK) has agreed to acquire cement and real estate projects from its substantial shareholder BBMG Group Company Limited for 1.496 billion yuan. Meanwhile, the company has changed the use of proceeds and redistributed 34 per cent of them for acquisition and general working capital. (Hong Kong Economics Times A14)
China Aoyuan Property Group (3883 HK) announced that sales in Chongqing Aoyuan City of Health reach 1.428 billion yuan, with 3414 units amounting to a total floor area of 332,800 square meters. (Sing Tao Finance B13)
China Grand Pharmaceutical & Healthcare (512 HK) plans to raise HK$86.5 million by placing 200 million shares at HK$0.45 per share, a 30.8 per cent discount on the closing price on the last trading price. (Hong Kong Economic Journal P4)
Huafeng Group (364 hK) announced that its net profit for 2009 was HK$132.7 million, surging 46 per cent from a year ago. Earnings per share were 10.7 HK cents. A final dividend of 0.5 HK cent per share was declared. (Sing Tao Finance B13)
Huaneng Power International (902 HK) plans to raise no more than 10.3 billion yuan by selling 1.2 billion and 400 million new A and H shares respectively. The prices have been preliminarily fixed at 7.13 yuan per A share and HK$4.97 per H share. (Hong Kong Economics Times A12)
Winbox International (474 HK) plans to place 554 million new shares at HK$1.26 apiece to raise HK$666 million. (Hong Kong Economics Times A14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
