361 Degrees International (1361 HK) announces that 2011 contracted sales for Spring and Summer rose 20 per cent yoy. Also, “361 Towns” has increased to 5 stores. (Hong Kong Economic Times A13)
JP Morgan bought 46.972 million shares in AgBank (1288 HK) at an average price of HK$3.54 on 2 Sep, taking its shareholding in the bank to 5.12 per cent. (Hong Kong Economic Times A12)
BOC (3988 HK) issues 1 billion to 5 billion yuan bonds starting today. The 2-yr bond bears an annual interest rate of 2.65 per cent and the 3-yr bond, 2.9 per cent. The minimum order set at 10000 yuan. To purchase the bonds, investors can go to banks including DBS, Fubon, Standard Chartered and Wing Lung. (Hong Kong Economic Times A2)
Vodafone launched the sale of its stake in China Mobile (941 HK) last night, attempting the market with a rate up to HK$82 per share. Market response is more positively to the price between HK$76.5 and HK$79 per share. If all the 3.3 per cent stake, equivalent to 642 million shares, held by Vodafone is sold at the highest rate of HK$79 per share, it is expected Vodafone will raise over HK$507 million. (SingTao Daily B2)
China Railway Group (390 HK) says its subsidiary China Railway Erju has successfully bid for several construction projects including the new Tianjin-Baoding railway construction project. The bidding price is more than 2.98 billion yuan. (SingTao Daily B4)
Far East Holdings International (36 HK) announces that David Chiu resigned as a non-executive director, with effect from 7 Sep, as Chiu would like to concentrate more efforts in the recent business expansion in Far East Consortium International (0035). (Hong Kong Economic Journal P4)
Hopson Development (754 HK) has successfully bid for a residential land situated in the Songjiang New District, Shanghai at a price of 1.246 billion yuan. Land price per floor area is around 16,500 yuan per square meter, hitting a record of land price in residential land at Songjiang District. (SingTao Daily B4)
HSBC (5 HK) Holdings announces that it has agreed that Stephen Green will step down as chairman before the end of the year so as to accept the invitation of the UK’s Prime Minister David Cameron to become Minister of State for Trade and Investment in Jan 2011. (Hong Kong Economic Times A4)
ICBC (1398 HK) announced that the issue of subordinated bonds in an amount of not exceeding 22 billion yuan among banks throughout China was approved by The People’s Bank of China. The current issue of subordinated bonds is used to substitute for the redeemed portion of the subordinated bonds issued in 2005. (SingTao Daily B4)
Lippo China Resources (156 HK) plans to subscribe 42.4 million new Asia Now shares at a subscription price of around HK$95.4 million. Upon completion of the subscription, LCR is expected to hold nearly 50 per cent interest in Asia Now, a company engaged in the business of exploration of mineral deposits in the mainland, (SingTao Daily B4)
Magic Holdings (1633 HK) spun off from Hua Han Bio-Pharmaceutical (0587) will start IPO on Friday. According to the sales documents, offer price ranges between HK$2.4 and HK$3.3. The board lot size is 1000 shares. The shares will list on 24 Sep. The company plans to issue 200 million new shares to raise up to HK$660 million. (Hong Kong Economic Journal P6)
Shanghai Forte Land (2337 HK) has planned to issue domestic shares to Fosun International (0656). The special resolution was not approved at the EGM and class meeting of holders of H Shares yesterday. The payment of around HK$260 million already made to Forte Land by Fosun International will be refunded accordingly. (Hong Kong Economic Journal P8)
Smartone (315 HK) posted a 5.9 times growth year-on-year in net profit to HK$294 billion for the year ended June 30, 2010. Earnings per share was 55.3 HK cents. An interim dividend of 35 HK cents per share was recommended. Handset subsidy amortization in the period rose by 10% to HK$280 million. (SingTao Daily B3)
Swire Pacific (19 HK) is reorganizing its non-core-businesses, planning to sell 44.57 per cent of the Crown Can interests for a total consideration of US$150 million (equivalent to about HK$1.17 billion). The net book value of the Crown Can interests is HK$372 million. Swire Pacific will realize a profit on disposal of around HK$797 million. (SingTao Daily B3)
Yeebo (259 HK) announced that China Securities Regulatory Commission has approved the application of Nantong Jianghai to proceed with the IPO in Shenzhen. Yeebo is holding 50 per cent stake in Nantong Jianghai. Trading in the shares of Yeebo on the local bourse will be resumed today. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
