IPO: Chu Kong Steel Pipe plans to list on the Hong Kong bourse by issuing 300 million shares at an offer price ranging from HK$4.50 to HK$6.15 with an entry fee of HK$6212.05 per board lot of 1000 shares. The company plans to raise as much as HK$1.845 billion. (Hong Kong Economic Journal P4)
Cheung Kong (1 HK) subsidiary Grandwood Investments has won the contract for the Urban Renewal Authority’s joint development project in Sham Shui Po. (Hong Kong Economic Journal P. 3)
China South City Holdings (1668 HK) plans to develop a land plot in Jiangxi Nanchang for HK$8 billion. The project will be divided into three phrases and is expected to be completed in 2012. (Sing Tao Finance B3)
C Y Foundation (1182 HK) said it was informed by solicitors of substantial shareholder Luck Continent Limited on January 22 that the talks on the possible acquisition of all or part of the shares and warrants of the latter in the company with the potential purchaser have just been terminated as Luck Continent Limited had not received any firm written offer from such potential purchaser. No agreement has been reached between the parties. (Hong Kong Economic Times A8)
Evergrande Real Estate (3333 HK) announced to issue US$750 million (HK$5.8 billion) senior notes due 2015. The estimated net proceeds amount to approximately US$730 million. (Sing Tao Finance B3)
Guoco Group’s (53 HK) subsidiary Hong Leong Bank proposed to acquire a Malaysian banking group EON Capital Bhd with HK$11.2 billion. If accepted, the merged bank group will become the fourth largest in Malaysia. (Sing Tao Finance B3)
Jiahua Stores Holdings (602 HK) said it is likely to record a lower profit for the year ended December 31 in 2009 due to general decline in local consumption power and effects of renovation of certain existing stores. (Hong Kong Economic Times A8)
Singamas Container Holdings (716 HK) said it expected a significant net loss for last year, compared with a profit for 2008, because demand for shipping containers fell with China’s exports. (Hong Kong Economic Times A8)
China Everbright International (257 HK) has signed an investment cooperation framework with Anhui government to develop green industry there. (Hong Kong Economic Times A12)
China Railway Group (390 HK) said it has been approved by regulatory to issue corporate bonds worth of six billion yuan on the mainland. (Hong Kong Economic Times A12)
China SCE Property Holdings (1966 HK) plans to issue 600 million new shares at an offer price ranging from HK$2.60 to HK$3.30 with an entry fee of HK$3333.3 per board lot of 1000 shares. The developer plans to raise up to HK$2 billion for present property projects and general working capital. (Sing Tao Finance B14)
CNNC International (2302 HK) has agreed to buy 37.2 per cent stake in Azelik uranium mining project in Niger from state-owned parent China Uranium Corp for HK$414 million. Production is expected to start in the second half of the year. (Hong Kong Economic Times A12)
NWS Holdings (659 HK) hopes its infrastructure construction business to account for 80 per cent of its businesses and expects its railway container centre station to generate HK$6 billion to HK$7 billion revenue in the future. (Hong Kong Economic Journal P8)
UC Rusal (486 HK) is sued by the Guinean government for a compensation of US$860 million (HK$6.67 billion) as the Guinean minister of mines accuses UC Rusal of not being “truly transparent about all the facts” in the share prospectus. UC Rusal spokesman said there is no need to provide additional information as it has already provided sufficient information about this dispute in its IPO document. (Sing Tao Finance B14)
Shandong gold miner Zhaojin Mining Industry (1818 HK) has entered into a framework agreement to jointly develop a gold mine in Fengcheng city, Liaoning province. It plans to spend up to 200 million yuan to expand the ore processing capacity. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
