BBMG Corporation (2009 HK) announced that the company plans to acquire assets of cement, new building materials, property development and real estate investment for a consideration of 2.65 billion yuan. (SingTao Daily B4)
Air China Limited was approved by the shareholders to issue new H and A shares so as to strengthen its capital and develop its business. As Cathay Pacific (293 HK) was not on the list of H-share investors, it bought Air China at a price of HK$7.087 to increase 18 million shares of Air China for HK$127.5 million on May 26, edging up its share holding 0.1 per cent to 18.48 per cent. (SingTao Daily B2)
Macquarie has rated China Merchants Holdings (144 HK) shares “outperform”, with target price of HK$31, saying that exports from China to Northern America and in Asia will recover strongly. (Hong Kong Economic Times A12)
China WindPower Group (182 HK) has entered into two contracts to purchase wind power electricity generation equipment for a total of HK$1.346 billion. Consideration will be paid in cash by installment. (Hong Kong Economic Journal P4)
China XLX Fertiliser (1866 HK) chairman Liu Xing Xu expected demand for chemical fertilizers to go up 5 per cent in China this year and overall gross profit margin of the company this year, driven by oil and food prices, to be slightly above the figure last year. (Hong Kong Economic Times A14)
Heng Tai Consumables (197 HK) issues 100 million units of TDRs today, involving 500 million underlying shares, representing 17.68 per cent of its issued share capital. (Hong Kong Economic Journal P8)
Johnson Electric Holdings Limited (179 HK) announced yesterday that for the financial year ended 31st March 2010, its net earnings increased to US$75.5 million, up 28 times year-on-year. A final dividend of 5 HK cents per share was recommended. (SingTao Daily B4)
Le Saunda (738 HK) announced that its profit increased by 70 per cent to HK$123 million for the year ended 28 Feb 2010. Profit per share is 19.2 HK cents. A final dividend 7 HK cents per share was declared. (SingTao Daily B4)
The old-share allotment transaction by Midland’s (1200 HK) chairman and founder was listed last week. It shows that Wong and his wife decreased holding of 60 million shares holding of Midland at a price of HK$5.9 per share, according to disclosure of interest of major shareholders. (SingTao Daily B4)
Netel Technology (8256 HK) announced that the company entered into the subscription agreements with the two subscribers to allot and issue each for 15 million shares at a price of HK$0.17 per share, around 19 per cent discount compared to its closing price yesterday. (SingTao Daily B4)
PICC Property and Casualty (2328 HK) plans to issue 10-year subordinated term debts with an aggregate principal amount of not exceeding 8 billion yuan in order to raise its solvency margin. (Hong Kong Economic Journal P8)
Qin Jia Yuan Media (2366 HK) announced that the Japanese privately-offered fund will issue as much as HK$121 million of 5-year term Series A and Series B non-listed convertible bonds to privately-offered fund Advantage Partners L.L.P. (SingTao Daily B4)
Shimao Property (813 HK) executive director Hui Sai Tan Jason said contracted sales was around 1.5 billion yuan in May, lower than the 2.5 billion yuan in April. It is expected that the sales will be back to April’s level in June. (Hong Kong Economic Times A14)
Yuexiu Property (123 HK), GZI Transport (1052) and GZI REIT (0405) announced that Guangzhou Municipal People’s Government had transferred its interest in the entire issued share capital of Yue Xiu Enterprises to Guangzhou Yue Xiu Holdings, a company newly formed by the Guangzhou Government. (Hong Kong Economic Journal P8)
Xinjiang Goldwind Science and Technology (2208 HK) is to raise HK$7.827-9.092 billion for 395.3 million shares at a price of HK$19.8-23 per share. The entry fee is HK$4646 per lot (200 shares). It will be listed on Jun 22. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
