Monday, June 21, 2010

Hong Kong Stock Market Wrap June 18th, 2010

IPO: Sources says Shirble of Shenzhen plans to start its IPO on 25 June, issuing 375 billion shares at 2.11 to 2.81 per share to raise up to 1.05 billion. Revenue this year would climb 20 per cent to 1.372 billion yuan, BNP Paribas forecasts. (Hong Kong Economic Times A12)

Artini China (789 HK) plans to place shares at a price of HK$0.53 per placing share to raise net proceeds of HK$42.5 million. The placing price represents a discount of approximately 17.19 per cent to the closing price on June 18. (SingTao Daily B14) (SingTao Daily B14)

China Railway (3900 HK) has approved a private placement to issue a maximum of 1.518 billion new A shares for subscription. The issue price of the A shares will be not less than 4.11 yuan, raising a maximum total amount of 6.239 billion yuan. CRECG, China Railway controlling shareholder, plans to subscribe around 852 million shares at an amount not exceeding 3.5 billion yuan. (Hong Kong Economic Times A10)

The number of China Unicom’s (762 HK) new 3G subscribers in May reached 1 million, first in this year, suggesting that its fee cut promotion scheme is effective. The aggregate number of its 3G service subscribers is 6.528 million. Tencent stock price went up 1.8 per cent, ended HK$9.61, being the worst blue chip on Friday. (Hong Kong Economic Times A10)

Huabao International (336 HK) posted a net profit of HK$1.34 billion for the year ended March 31 this year, rising 20.7 per cent. Earnings per share is 43.15 HK cents, up 19.6 per cent. Apart from recommending a final dividend of 6.78 HK cents per share, special dividend of 5.5 HK cents per share was also declared. (SingTao Daily B14)

Oriental Press (18 HK) recorded a net profit of HK$307.49 million for the year ended Mar 31, with earnings per share at 12.8 HK cents. No final dividend was recommended. (SingTao Daily B14)

Tencent (700 HK) has been plummeting recently, but it made a late rebound on June 18, surging to HK$135.5 from HK$120, the whole day volatility being over HK$10, ended up HK$129.7, rising 3.76 per cent or HK$4.7, with turnover as much as HK$3.24 billion to become the most active stocks again. (Hong Kong Economic Journal P4)

Theme International (990 HK) plans to place 70 million shares to Suen Cho Hung, the major shareholder of several companies including China Yunnan Tin Minerals Group. The placing price will be HK$1, representing a discount of 13.79 per cent to the closing price on Friday, raising net proceeds of HK$69.90 million. (SingTao Daily B14)

Century Sunshine Group (509 HK) acquires Sunshine Partners from Yang Yuchuan and Zou Li for HK$87.75 million. The consideration is satisfied partially in cash and partially by issuing 226 million new shares at HK$0.3 each. (Hong Kong Economic Times A14)

China Everbright International (257 HK) signs two framework agreements with Anhui province and Jiangsu province respectively to develop biomass power generation, involving 640 million yuan in total. (SingTao Daily B13)

China Sci-Tech Holdings (985 HK) places shares at HK$0.2 per share for US$600 million. Trading of its shares resumes today. (SingTao Daily B13)

HSBC Holdings (5 HK) may acquire Royal Bank of Scotland’s business in India. According to a media report, the 2 banks have been in talks regarding the acquisition for months. The deal is expected to confirm within several weeks. (Hong Kong Economic Journal P4)

HALF YEAR NET DOWN 73.3% Huafeng Group Holdings (364 HK) posted turnover of HK$360 million for the six months ended 31 March 2010, up 11.5 per cent over the same period last year. Profit attributable to equity shareholders was HK$31 million, down 73.3 per cent over the same period last year. (Hong Kong Economic Journal P4)

King Stone Energy (663 HK) places up to 2.673 billion new shares, 14.42 per cent of its issued share capital as enlarged, at HK$0.195 each for HK$521 million. It has applied to resume trading in its shares today. (Hong Kong Economic Times A14)

Wah Nam International (159 HK) places up to F185 million shares, 4.96 per cent of its issued share capital as enlarged, at HK$1.11 each for HK$199 million. It has applied to resume trading in its shares today. (Hong Kong Economic Times A14)

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