Wednesday, October 6, 2010

Hong Kong Stock Market Wrap October 5th, 2010

AIA (1299 HK) plans to start IPO on 18 Oct and list on 29 Oct. It plans to issue 5.875 billion existing shares at HK$18.38-HK$19.68 per share to raise 13.8 billion-14.8 billion dollars. Cornerstone investors include Kumulan Wang Persaraan (200 million dollars) and Guoco Group (420 million dollars). (Hong Kong Economic Times A2)

Asia Satellite (1135 HK) announces that its subsidiary AsiaSat has entered into a launch contract with International Launch Services. ILS shall provide one-launch services to AsiaSat for launching AsiaSat 7 within the period between August 2011 and November 2011, such launch period can be postponed by no more than 12 months. The consideration for the provision of the launch services is around US$100 million. (SingTao Daily B2)

China Everbright (165 HK) placed 129 million new shares, 7.5 per cent of the issued share capital as enlarged, at HK$18-18.7 per share, a discount of 3.5-7.1 per cent of yesterday’s closing price of HK$19.38, yesterday to raise up to HK$2.41 billion to develop its asset management and investment business. (Hong Kong Economic Times A3)

China Unicom (762 HK) has offered 3G internet card packages, targeting at young subscribers. The package consists of 1,200 yuan of stored-value fees and a piece of 3G internet card. Customers can choose whatever monthly plan they need. (SingTao Daily B2)

Hong Long (1383 HK) was notified after closing yesterday that independent third party Chiu Ming purchased 308 million shares of Hong Long, 25 per cent of its issued share capital, from Grand Prosperity, held by Hong Long’s substantial shareholder and executive director Zeng Sheng, at HK$1.3 per share. Shares of Hong Long closed at HK$1.21 yesterday. (Hong Kong Economic Times A12)

IDT International (167 HK) plans to acquire the SGX-ST listed subsidiary IDTS. The company is required to pay up to around SGD 21 million (around HK$124 million). (SingTao Daily B2)

KWG Property’s (1813 HK) sales reached 1.1 billion in Sep. 93 per cent of the full-year sales target of 10 billion was reached. (Hong Kong Economic Journal P12)

Lee Kee Holdings (637 HK) aims to sell 60 per cent equity interest in Foshan Nanhai Almax Non-Ferrous Metals Company Ltd. to Ying Yeung Metal Materials Limited. The consideration for the sale is more than HK$38 million. (SingTao Daily B2)

Long Success International (8017 HK) is planning to sell Right Gateway for a consideration of HK$2 million. Upon completion of the sale, the company will devote resources to its other core businesses such as paper manufacturing, biodegradable materials manufacturing and other businesses relating to environmental protection. (SingTao Daily B2)

NWS (659 HK) saw net profit jump 59 per cent to HK$4.012 billion for the year ended June 30. Earnings per share was HK$1.92. A final dividend of HK$0.33 per share and one bonus share for every two existing shares were declared. Turnover of NWS amounted to HK$12.089 billion, down 30 per cent from the previous year. (SingTao Daily B3)

Poly (Hong Kong) Investment (119 HK) booked contracted sales of 7.5 billion for the first 9 months, up 17.2 per cent yoy. Sales area reached 10,300 sqm. Sep sales amounted to 1.5 billion, up 88 per cent mom. (Hong Kong Economic Times A12)

Shimao Property Holdings (813 HK) recorded contracted sales of 19.6 billion yuan in the first 9 months, up 12 per cent yoy. Sales area amounted to 1.606 million sqm at 12,200 yuan per sqm on average, up 38 per cent yoy. Sep sales reached 3.52 billion yuan, up 30 per cent mom. (Hong Kong Economic Times A12)

Silver Base Group (886 HK) has signed LOI with Inner Mongolia Mongolianking Industrial Co., Ltd. in relation to the acquisition of 35 per cent of the equity interest in Mongolianking, but the consideration is not mentioned. The company says it intends to gradually increase its interest in Mongolianking up to 51 per cent. (SingTao Daily B2)

On 28 September 2010, Tse Sui Luen Jewellery ‘s (417 HK) founder Tse Sui-luen issued a writ of summons against the current controlling shareholder Tommy Tse Tat-fung. The board does not believe this matter will have a material adverse effect on the company’s day-to-day operations. (SingTao Daily B2)

Zhongsheng Group (881 HK) shareholder placed up to 120 million existing shares, with over-allotment options, at HK$16.16-HK$16.58 per share, a discount of 3.7-6.1 per cent of yesterday’s closing price of HK$17.22, via Morgan Stanley yesterday to reap up to HK$1.989 billion. (Hong Kong Economic Times A3)

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