Monday, March 15, 2010

Hong Kong Stock Market Wrap Mar. 12th, 2010

APAC Resources (1104 HK) announced to place 1.1 billion shares at HK$0.5 apiece, a 3.85 per cent discount to the closing price, to raise HK$535 million. (Hong Kong Economic Journal P. 6)

Shenhua Group, the controlling shareholder of China Shenhua Energy (1088 HK), said it decided to postpone the sale of its 10.8 billion yuan 5-year bonds. (Hong Kong Economic Times A12)

Sources said CLP (2 HK) Power is issuing HK$500 million 10-year US dollar-denominated fixed-rate notes, with 125 basis points higher than that of treasury bonds. (Hong Kong Economic Journal P. 6)

I-CABLE Communications (1097 HK) said loss amounted to HK$40.9 million for 2009, compared with a loss of $110 million over the previous year. Loss per share was 2 cents. No final dividend was declared. (Sing Tao Finance B4)

Bank of China (3988 HK), the country’s fourth-largest lender, issued 24.93 billion yuan 15-year subordinated bonds on 9 March. (Hong Kong Economic Times A12)

The Bank of East Asia (23 HK) expects profit to surge 10 per cent this year and hopes to become a shareholder of a fund firm in mainland. (Hong Kong Economic Times A12)

The Hong Kong and Shanghai Hotels (45 HK) has posted a net loss of HK$315 million for 2009, diving 61 per cent compared to the previous year. (Sing Tao Finance B4)

BYD (1211 HK) has posted a net profit of 3.794 billion yuan for the year ended December 31 in 2009, surging 270 per cent year-on-year. Earnings per share were 1.77 yuan. A final dividend of 0.33 yuan per share was declared. (Hong Kong Economic Journal A13)

CNOOC (883 HK) has agreed to acquire 50 per cent stake in Bridas Corporation, a unit of Bridas Energy Holdings in Argentina for US$3.1 billion (HK$24 billion) so to expand its market in Latin America. (Hong Kong Economic Journal A13)

Far East Global (830 HK) is seeking to raise up to HK$702 million in a Hong Kong initial public offering by issuing 362 million shares at a price ranging between HK$1.18 and HK$1.69 apiece. Entry fee is set at HK$3414.1 per board lot of 2000 shares. (Hong Kong Economic Journal P.6)

Fook Woo Group (923 HK), a paper recycling company, will kick off its initial public offering in Hong Kong on Friday to raise up to HK$1.4 billion. The offering price ranges between HK$1.68 and HK$2.30 per share. (Hong Kong Economic Journal P.6)

Shanghai International Shanghai Growth Investment (770 HK) has recorded a net profit of US$0.7 million for the year 2009, against a net loss of US$2 million for 2008. Earnings per share were 7.9 US cents. A special final dividend of 10 US cents per share was declared. (Sing Tao Finance B13)

Titan Petrochemicals Group (1192 HK) said it has agreed to sell a shipping vessel for US$18 million (HK$140 million). The company loses US$27.2 million (HK$212.2 million) upon the deal. (Sing Tao Finance B13)

Vodone (82 HK) said it is expected to record a profit for the year 2009 as compared to a loss for 2008 due to the improved performance of business and contributions of new businesses in 2009 including mobile lottery and mobile gaming. (Sing Tao Finance B13)

Zhejiang Expressway (576 HK) has recorded a net profit of 1.8 billion yuan for 2009, dropping 5.1 per cent year-on-year. A final dividend of 25 fens per share was declared. (Hong Kong Economic Journal A13)

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