21 Holdings (1003 HK) proposes the consolidation of every 20 issued existing shares into 1 issued consolidated share and a rights issue on the basis of 10 rights shares for every 1 adjusted share at HK$0.19 per rights share, to raise HK$214 million for acquiring real estate agency business in the PRC. (SingTao Daily B11)
China Overseas Land & Investment (688 HK) CEO Hao Jian Min decreased holding of shares in the company by 300,000 shares at HK$17.65 on 20 Sep, reaping HK$52.95 million. (Hong Kong Economic Journal P6)
HSBC’s (5 HK) CEO Michael Geoghegan reportedly threatens that he would quit if he was not made a chairman, expressing his dislike for John Thornton to be his superior. HSBC spokesperson McGuinness says the rumour is just nonsense. (Hong Kong Economic Journal P2)
Kader Holdings (180 HK) will sell 16 commercial units at 66 Lujiazui Road, Shanghai to 2 purchasers for over HK$77 million, to reap 31.22 million. (SingTao Daily B11)
RCG Holdings’ (802 HK) chairman Raymond Chu Wai Man has sold 5 million ordinary shares at HK$4.9 each to an institutional buyer, reaping HK$24.5 million. Chu’s total interests dropped from 18.8522 million shares or 6.49 per cent to 13.852 million shares or 4.77 per cent. (Hong Kong Economic Times A7)
Substantial shareholder of Tai-I International (1808 HK) Taiwan Tai-I entered into a non-binding MOU on 20 Sep with an independent purchaser regarding the possible sale of 32.79 per cent interest in Tai-I International held by Taiwan Tai-I to the purchaser at HK$0.3925 per share. (SingTao Daily B11)
Tcl Communication (2618 HK) Technology has appointed Andrew Look as independent non-executive director, entitled to an annual remuneration of HK$180,000, and granted him share options to subscribe for 600,000 ordinary shares, with validity period of 6 years. (SingTao Daily B11)
BBMG (2009 HK) plans to acquire assets of a cement production line, which is situated at Lingchuan Xian, Shannxi and is owned by Henan Mendian Group, at a total consideration of 350 million yuan. The company will increase its cement production capacity by about 1.5 million tons per annum through the acquisition. (Hong Kong Economic Journal P4)
BOC Hong Kong’s (2388 HK) rating was raised by Standard & Poor’s to “positive”. Shares price on Wednesday was seen HK$23.7 and to close 3.5 per cent higher at HK$23.5 finally, becoming the most powerful blue-chip. (SingTao Daily B10)
Leading brokerages have lowered rating on China Unicom (762 HK). Deutsche Bank forecast that China Unicom’s income from mobile phone business in 2010 and 2011 will decrease by 3 per cent and 6 per cent respectively, thus lowering its rating on the company from “buy” to “sell” and slashing target price from HK$11.7 to HK$10. (SingTao Daily B10)
Hutchison Whampoa’s (13 HK) subsidiary had signed a memorandum of understanding with Thailand’s state-owned CAT Telecom in relation to the sale of its mobile network, Bloomberg reports, citing Thailand newspapers. But the deal is cancelled as it does not get approval from Thailand authorities. (Hong Kong Economic Times A16)
Lenovo Group (992 HK) plans to launch hybrid personal computers in the mainland market early next year. Chief marketing officer David Roman expects the company to maintain the better-than-peers performance and to become the biggest personal computer producer in the world eventually. (SingTao Daily B3)
Ping An Insurance (2318 HK) has won approval to set up a fund management joint venture with United Overseas Bank, Xinhuanet reports. However, the spokesperson of Ping An Insurance said there is no announcement regarding the news. (SingTao Daily B3)
StanChart (2888 HK) aims to double its branch network in Nigeria over the next three years to tap into the country's growing middle class, its country chief executive Christopher Knight told foreign media. The lender is reportedly planning to take its number of branches to 50 from 26 and invest in new products rather than expand through acquisitions. (Hong Kong Economic Journal P6)
Vinda International (3331 HK) announced that shareholder Cathay Fund has distributed its entire stake, amounting to 9.2 per cent equity interest in the company, to its partners. The shares involved were about 83 million shares. Upon completion of the distribution, Cathay Fund will not hold any shares of the company. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
