IPO: Trauson (325 HK) issues 212.828 million shares starting today at HK$2.38-3.57 each to raise HK$506.5 million to HK$760 million. UBS is the sponsor. Receiving bank is Bank of China (Hong Kong). Offer period is today to noon of 21 June. Expected listing date is 29 June. (Hong Kong Economic Journal P2)
Major shareholders of China Lilang (1234 HK) sold 60 million of old shares at HK$8.4-8.6 per share, with 8.5-10.6 per cent of discount from its closing price yesterday. They increased the placing scale to 80 million shares and increased to cash in HK$672 million at last. (SingTao Daily B2)
The deadline for China Strategic (235 HK) to acquire Nan Shan Life is less than a month away. Executive Director Or Ching Fai Raymond said yesterday that the company may discuss with AIG for an extension. It is said that the company has submitted insufficient documents to Taiwan authority. (Hong Kong Economic Times A14)
Fantasia Holdings Group (1777 HK) acquires a site in Dongguan for 317 million yuan. The site area is 96,900 sqm and total gross floor area is 242,100 sqm. The land price is around 1,300 yuan per floor area. The company says its land reserve is around 13.42 million sqm now, adequate for use the next 3-5 years. (Hong Kong Economic Times A14)
Global Bio-Chem Technology Group (809 HK) plans to issue rights shares at a price of HK$0.75 per share to raise around HK$696 million on the basis of 2 rights shares for every 5 shares. HSBC will be the underwriter of the rights issue. (Hong Kong Economic Times A14)
Greentown China (3900 HK) achieved 20 billion yuan of accumulated sales volume as of June 13 this year, rising 17 per cent from a year ago. Among the 20 billion sales amount, there are 17.4 billion yuan of contracted sales. (SingTao Daily B4)
Neo Telemedia (8167 HK) plans to acquire the entire issued share capital of Ease Ray Limited from the vendor at a consideration of HK$1.1 billion. Upon completion, the vendor will become the major shareholder of Neo Telemedia, holding 25 per cent of interest of the company. (SingTao Daily B3)
Pearl Oriental (632 HK) released an announcement about the warrant subscription by its chairman. It stated that due to an inadvertent mistake, the announcement about the issuance of the above-mentioned warrant subscription has not been filed to the Securities and Futures Commission for comment before its publication and thus the company is in breach of Takeovers and Mergers and Share Repurchases. It also clarified that its chairman will not apply for the whitewash wavier at this stage. (SingTao Daily B3)
Silver Base Group (886 HK) chairman Liang Guo Xing said the group is in talk with a long established Chinese herbal tea company for cooperation opportunities. If a deal is reached, he expects gross profit margin of the company to be 35 per cent. Furthermore, he expects sales to surge 60 per cent this year. (Hong Kong Economic Journal P8)
Suncorp Technologies (1063 HK) has signed a non-legally binding memorandum of understanding regarding a possible acquisition of the entire equity interest in a mainland company that owns a 50-year exclusive right to operate a fiber optic backbone network in China. The consideration would be around HK$4.99 billion by a combination of cash and convertible bonds to be issued by the company.
Vtech (303 HK) recorded around HK$1.605 billion of net profit for the year ended 31 March 2010, up 44 per cent year-on-year. Basic earnings per share are 83.7 US cents. A final dividend of 62 US cents per share is recommended. (SingTao Daily B2)
Chairman of Xinao Gas (2688 HK) bought 940,000 shares of the company last Tuesday and Wednesday at a consideration of HK$13.3 million, increasing his stake to 31.11 per cent. (SingTao Daily B3)
OPEN OFFER UNDER-SUBSCRIBED Xing Lin Medical (8130 HK) announced that the open offer was under-subscribed with only 0.38 per cent of its total offer shares. Its underwriter Kingston Securities Limited will subscribe the remaining shares, which is equal to nearly 20 per cent of its stake following the expansion. (SingTao Daily B3)
Zhong An Real Estate acquires an 158,000 sq.m. site in Hangzhou for 834 million yuan. The company will only pay 51 per cent of the price, around 425 million yuan, as the site will be developed jointly with a real estate firm.
Z-Obee Holdings (948 HK) appointed Polaris yesterday as financial consultant to provide financial advisory service for the proposed TDR Listing. The company believes the proposed listing can attract international investors. (Hong Kong Economic Times A14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
