Wednesday, March 3, 2010

Hong Kong Stock Market Wrap Mar. 2nd, 2010

IPO: Zhongsheng Group, a Chinese automobile dealer, delayed taking orders from institutions for a Hong Kong initial public offering to raise as much as HK$ 7.8 billion. (Sing Tao Finance B2)

AviChina Industry & Technology (2357 HK) plans to place 334.6 million shares so to raise up to US$150 million (HK$1.17 billion). (Hong Kong Economic Times A11)

Beijing Capital Land (2868 HK) said its contracted sales for January and February amounted to 940 million yuan with a total floor area of 90,000 square meters, soaring 87 per cent and 41 per cent respectively compared with a year ago. (Hong Kong Economic Times A11)

Brightoil Petroleum (933 HK) has recorded a net profit of HK$429 million for the six months ended December 31 in 2009, surging 150 per cent year-on-year. The company proposes no interim dividend. (Sing Tao Finance B2)

BYD (1211 HK) has entered into the MOU with Daimler about the cooperation in the areas of electric cars and parts and components. They will form a joint venture company to develop new electric cars for the market in China. (Hong Kong Economic Times A10)

China Daye Non-Ferrous Metals Mining (661 HK) said it is in talks with a vendor for a potential acquisition of a copper mine with at least 200,000 tonnes of reserves. Yet, no material terms have been agreed between the parties and there is no legally binding agreement signed. (Hong Kong Economic Times A11)

A subsidiary of China Gogreen Assets Investment (397 HK) has agreed to purchase a production system for the Thin-Film Solar PV Modules from Apollo Solar Energy Technology Holdings Limited (0566) for HK$661 million. (Hong Kong Economic Journal P.6)

PRICES (3968 HK) H-SHARE AT HK$10.06 EACH CM Bank announced that it has priced its H-share at HK$10.06 apiece for its planned rights offer to raise 22 billion yuan.
(Hong Kong Economic Journal P.6)

China National Materials (1893 HK) said it has obtained an approval from the regulatory to issue medium-term notes with a total amount of 1.7 billion with an interest rate of 4.69 per cent and with a term of five years in single or multiple tranches on the inter-bank bond market in China. (Hong Kong Economic Journal P.6)

Lam Soon (411 HK) has recorded a net profit of HK$1.1 billion for the six months ended December 31 in 2009, surging 13 times year-on-year. (Hong Kong Economic Journal P.6)

Pacific Basin Shipping (2343 HK) has posted a net profit of US$110 million, plunging 73 per cent compared with a year earlier. The company proposes a final dividend of 15 HK cents per share. (Hong Kong Economic Times A10)

Sands China (1928 HK) has posted a net profit of US$213.8 million, growing 21.7 per cent compared with a year ago. Earnings per share were 3.32 US cents. No interim dividend was declared. (Hong Kong Economic Journal P.6)

Shimao Property (813 HK) announced that its contracted sales for January and February have reached 3.6 billion yuan, surging 2.36 times year-on-year with a total floor area of 335,000 square meters. (Hong Kong Economic Times A11)

The Link REIT (823 HK) announced that its chief operating officer Ross O'Toole has resigned. Ross will be leaving on a date to be agreed with the chief executive officer, following a successful search for his replacement. (Sing Tao Finance B2)

Wing On Travel (1189 HK) announced that it has cancelled the placing of the convertible bonds and terminated the rights issue due to the proposed sales of 90 per cent stake in one of its wholly-owned subsidiary. (Hong Kong Economic Journal P.6)

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