IPO: Sources says Convoy plans to start IPO on 29 June to raise over HK$200 million and list on the main board in mid-July, with Quam as sponsor. (Hong Kong Economic Times A12)
Bank of Communications (3328 HK) announces A share rights issue results. 97.84% of the total A shares were validly subscribed for, equivalent to 17.12514 billion yuan. A shares holders may subscribe for 1.5 shares for every 10 A shares held at 4.50 yuan each. (Hong Kong Economic Times A12)
China Overseas (688 HK) plans to sell a 30 per cent interest in the Xi’an Project, a 30 per cent interest in the Qingdao Project and a 32 per cent interest in the Shenyang Project for a total consideration of HK$1.23 billion to Harmony China Real Estate Fund. (SingTao Daily B4)
China Precious Metal Resources (1194 HK) plans to acquire a target company holding a gold mine at Mojiang Hani Minority Autonomous Prefecture, located at southwest of Kunming, for a consideration of 335 million yuan, with a discount of nearly 62 per cent from its valuation of 881 million yuan. (SingTao Daily B4)
Chaowei Power (951 HK) decides to launch IPO tomorrow to raise up to HK$780 million and list on 7 July with BNP Paribas as sponsor. (Hong Kong Economic Times A12)
EPI (689 HK) announced that Climax Associates Limited transferred 8.72 million shares in the company to Mr. Wong Chi Wing Joseph, the Chairman and CEO of the company. Climax is owned by Mr. Chu Kwok Chi Robert, executive director of the company and Mr. Wong. (SingTao Daily B4)
Guotai Junan (1788 HK) is to launch its first IPO on Friday to raise HK$1.59-2.31 billion at a price of HK$3.88-5.63 per share. Entry fee is HK$5,686. The proceeds gained from the IPO will be used for expanding its margin financing business, developing new business and repaying bank loans, accounting for 40, 10 and 30 per cent respectively. (SingTao Daily B3)
Intime Department Store (1833 HK) plans to sell 90 per cent equity interest in Hankou Hotel and the shareholder’s loan for an aggregate consideration of 320 million yuan. It is expected to have an income of 50 million yuan. (SingTao Daily B4)
Kenford (464 HK) reported a 5 per cent growth to over HK$53 million in its net profit for the year ended March 31. Earnings per share were 12.4 HK cents. A final dividend of 2.5 HK cents and a special final dividend of 1 HK cents were proposed. (SingTao Daily B4)
Man Wah (1999 HK) reported its first net profit yesterday after its listing on the bourse. The net profit grew by 1.7 times to HK$606 million for the year ended March 31, slightly higher than the profit forecast for HK$593 million. Earnings per share were 85.09 HK cents. A final dividend of 16 HK cents was declared. (SingTao Daily B4)
2H ROOM RENTS EXPECTED TO UP 20% Miramar Hotel (71 HK) and Investment Company expects occupancy rate of The Mira to be 90 per cent in the second half of the year, up 10 percentage points over the first 5 months, and room rents to be up 20 per cent in the second half. (Hong Kong Economic Journal P11)
Lee & Man Paper Manufacturing (2341 HK) CEO Lee Man Chun Raymond said the company has entered into a business collaboration agreement with Nippon Paper. The company sold shares to the latter for HK$3.55 billion in June. (Hong Kong Economic Journal P9)
Omnicorp (94 HK) has confirmed to issue new shares and convertible notes to raise net proceeds of more than HK$600 million for existing forestry business, investment and general operating capital. Omnicorp will issue around 42 per cent of the entire issued share capital of the company as enlarged by the subscription shares to its major shareholder Sino Forest. (SingTao Daily B4)
Sichuan Xinhua (811 HK) Winshare Chainstore will acquire 15 subsidiaries of its promoter and shareholder SPG for 1.255 billion yuan. They are mostly publishing companies. (Hong Kong Economic Times A14)
Sinoref Holdings (1020 HK) will start IPO on 25 June to raise up to HK$300 million and list on 7 July this year. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
