Thursday, February 11, 2010

Hong Kong Stock Market Wrap Feb. 10th, 2010

IPO: Rumour has it that AIA has appointed another seven underwriters after Morgan Stanley and Deutsche Bank, they include Credit Suisse, Goldman Sachs, UBS and Silver Grant International Industries. Sources said AIA has filed a listing application to the regulator and would come on the stage in April to raise US$10 billion to 15 billion. (Hong Kong Economic Times A11)

Air China (753 HK) plans to buy 20 Airbus Series 320 aircrafts for 1.628 billion yuan to raise its transportation capacity by 5 per cent. The company will receive the aircrafts from 2011 to 2014 (Sing Tao Finance B2)

BoCom International of BankComm (3328 HK) has launched the first private direct investment fund to raise US$300 million to 500 million (HK$2.34 billion to 3.9 billion) and will focus on firms going listed within 12 to 24 months. (Hong Kong Economic Times A10)

C C Land (1224 HK) plans to acquire 51 per cent stake in a commercial and residential project in Fuling District in Chongqing for 43.41 million yuan. (Sing Tao Finance B2)

Emperor Entertainment Group (8078 HK) has recorded a net loss of HK$32.49 million for the second half ended December 31 in 2009. Net loss for the six months has been narrowed to HK$33.86 million. No dividend was declared. (Sing Tao Finance B2)

Great Wall Motor (2333 HK) said its automobile sales volume in January rose by more than 1.5 times year-on-year to 25,100 units. (Sing Tao Finance B2)

Greentown China (3900 HK) will probably sign a strategic agreement with Shandong Expressway Co Ltd to spend a total of 5 billion yuan to set up a property joint venture to develop property in Shandong. The real estate developer will hold a stake of between 45 per cent and 49 per cent in the JV. (Hong Kong Economic Times A11)

Huaneng Power (902 HK) announced that it has gained approval from regulatory for an A+H share placement to raise up to 10.31 billion yuan to help finance its clean energy projects, boost capacity and repay debt. The company also announced that the Phase II Project at Gansu Pingliang Power Plant, in which it owns 65 per cent interests, has completed the 168-hour trial run recently. (Hong Kong Economic Times A11)

Sources said Lenovo (992 HK) plans to place 40.35 million shares at HK$5 to HK$5.1 apiece to raise HK$206 million. The placement price is 0.4 per cent to 2.3 per cent discount on its HK$5.12 closing price yesterday. (Hong Kong Economic Times A11)

NagaCorp (3918 HK) has posted a net profit of US$25.46 million for the year ended December 31 in 2009, declining 36 per cent year-on-year. Earnings per share were 1.23 US cents. A final dividend of 0.4 US cent per share was declared. (Sing Tao Finance B3)

PICC Property and Casualty (2328 HK) announced that its direct premiums income for January was 18 billion yuan, surging 37.3 per cent compared to 13 billion yuan for the same period in 2009. (Hong Kong Economic Journal P. 5)

Real Gold Mining’s (246 HK) subsidiary Chifeng Fuqiao has agreed to acquire 100 per cent stake in Jinshi Mining for 60 million yuan. The deal is settled in cash. (Sing Tao Finance B2)

Forte (2337 HK) has acquired entire stakes in Garden Plaza Capital SRL for around HK$2.25 billion Its gross floor area in Shanghai amounted to 97,000 square meters after the deal. (Hong Kong Economic Times A11)

SRE Group (1207 HK) said it has acquired 9 per cent stake in a retail asset in Shenyang for 305 million yuan. (Sing Tao Finance B3)

Wing On Travel (1189 HK) has agreed to acquire 45 per cent stake in the project of Sanya Innovative New City Recreational Park & Marina. The company will inject HK$52.2 million to the project. (Sing Tao Finance B2)

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