Wednesday, February 17, 2010

Hong Kong Stock Market Wrap Feb. 12th, 2010

IPO: According to sources, AIA is rumoured to raise up to US$20 billion (HK$156 billion) through its initial public offering in Hong Kong in April. (Hong Kong Economic Times A2) EuroSibEnergo, a power division of Deripaska’s energy holding company, plans to list on the Hong Kong bourse, to raise between US$1 billion and US$2 billion, according to sources. Epure International, a Singapore-listed turnkey water and wastewater treatment solutions providers in China, plans to list on the Hong Kong bourse in March to seek up to US$300 million (HK$2.34 billion). (Hong Kong Economic Journal P. 6)

China Shanshui Cement announced that its unaudited consolidated profit for the fourth quarter of 2009 is expected to decrease compared with the corresponding period in 2008. (Sing Tao Finance B9)

Country Garden (2007 HK) announced that it is considering amending certain terms of its 11.750 per cent senior notes due 2014 in order to facilitate its participation in the project of the Asian Games City and other business needs. (Sing Tao Finance B9)
Heng Xin China Holdings (8046 HK) has recorded a net profit of HK$90.77 million for the year ended December 31 in 2009, surging 193 per cent year-on-year. The company declares no dividend. (Sing Tao Finance B9)

Rumour has it that a conglomerate led by Francis Leung is intended to invest in Imagi International (585 HK). The company said Tuesday that it is in exclusive talks with a potential investor that could become its controlling shareholder. HK$3.5 million has been paid to the company by the interested conglomerate. Yet, no binding agreements have been reached. (Sing Tao Finance B9)

International Entertainment (8118 HK) has posted a net profit of HK$185 million for the nine months ended December 31 in 2009, surging 28.5 per cent year-on-year. No dividend was declared. (Sing Tao Finance B9)

Siberian Mining Group (1142 HK) proposes to implement the share consolidation on the basis that every 50 shares will be consolidated into one consolidated share. The company also changes the board lot size for trading in the shares from 20,000 shares to 2,000 consolidated shares. (Sing Tao Finance B9)

C C Land (1224 HK) has agreed to sell 60 per cent stake in its Chengdu project with an expected profit of HK$104 million. The company’s land bank amounts to 10.10 million square meters upon the completion of sales. (Sing Tao Finance B3)

According to The Times, shareholders of HSBC (5 HK) oppose to the proposed pay rise for its top executives, especially the pay of its chief executive Michael Geoghegan in 2009, who relocated his office to Hong Kong on February 1. In addition, it is estimated that bonus paid to HSBC staffers would amount to £1.5 billion (HK$18.24 billion). (Hong Kong Economic Times A9)

Kingsoft Corporation (3888 HK) said its cooperation with Shanda Interactive Entertainment Limited helps to raise the average revenue per user (ARPU) and user’s loyalty to its products. The company will continue to focus on developing large-scale games and has no plans to develop games for mobile phones at present. (Hong Kong Economic Times A9)

Z-Obee (948 HK) has recorded a margin of HK$11 million for the first day of its IPO which started last Friday as its IPO is conducted during a long Chinese New Year holiday. (Hong Kong Economic Journal P. 6)

ZTE’s (763 HK) executive director He Shiyou said the company expects the number of user of TD-SCDMA mobile phone to grow to 18 million next year on the generalized TD-SCDMA technology on the mainland. (Sing Tao Finance B3)

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