AAC Acoustic Technologies (2018 HK) earned around 665 million yuan for the 9 months ended 30 Sep, surging 68.8 per cent yoy. Revenue amounted to 2.29 billion yuan, up 51.8 per cent yoy. No dividend was declared. (Hong Kong Economic Journal P12)
Air China Limited (753 HK) has received a formal approval from China Securities Regulatory Commission that the company is approved to place no more than 585 million A shares, which will expire after six months. (SingTao Daily B4)
Li Li-hui, vice chairman and president of Bank of China (3988 HK), says that after completion of A+H share placings, BOC’s capital adequacy ratio will increase by around one percentage point, meeting the capital requirement for the development from 2010 to 2012, so no new financing plan is required for the time being. (SingTao Daily B4)
Cheung Kong (Holdings) (1 HK) chairman Li Ka Shing increases holding of shares in the company by 1 million shares at HK$118.343 each on average last Thu, involving over HK$118 million, taking his shareholding from 42.27 per cent to 42.31 per cent. Shares closed at HK$122.8 yesterday. (Hong Kong Economic Journal P8)
China Construction Bank (939 HK) announced yesterday that the rights issue has been priced at 3.77 yuan apiece, on the basis of 0.7 share for every ten shares. The rights issue price for H shares has yet to be announced. But based on the yuan exchange rate, the H-share rights issue will be priced around HK$4.39 per share. (SingTao Daily B4)
China Overseas Land (688 HK) and Investment plans to issue 10-yr US$ bonds. Moody's has assigned a Baa2 rating to the bonds, expecting the company to keep net debt/capitalization ratio below 35 per cent over next 2-3 years.
China Resources Land (1109 HK) booked total sales revenue of 17 billion yuan as of Oct 28, 2010, nearly achieving the full-year target of 18 billion yuan. Chairman Wang Yin says the company will raise its full-year target, expecting to achieve the target of 20 billion yuan. (SingTao Daily B4)
China Tian Lun Gas (1600 HK) closed its retail book yesterday. It is said that the IPO was over 437 times oversubscribed, freezing around HK$18 billion. Retail tranche was over 100 times covered. (Hong Kong Economic Times A12)
CITIC Dameng Holdings (1091 HK) kicked off roadshow yesterday, planning to raise 1.575 billion to 2.063 billion. It is said its international placing was 2.5 times oversubscribed. (Hong Kong Economic Times A12)
Guangzhou (2777 HK) announces that contracted sales revenue and sales area for October this year rose 14 per cent and 5 per cent respectively, amounting to 2.5 billion yuan and 204,200 sqm respectively. (SingTao Daily B4)
Harbour Centre Development (51 HK) has appointed Chow, Ming Kuen Joseph as
a director, effective from 1 Nov. Chow, aged 69, is an independent non-executive director of Build King, Chevalier International, PYI Corporation and Road King Infrastructure. (Hong Kong Economic Journal P8)
HSBC (5 HK) has declared a third interim dividend of US$0.08 per share for the year 2010, unchanged from the 2nd interim dividend this year. Hang Seng Bank (0011) has also declared a third interim dividend in respect of the year 2010 of HK$1.10 per share, same as the corresponding period last year. (SingTao Daily B4)
ICBC (1398 HK) paid US$1 to take over the prime dealer services unit of Fortis Securities, the Wall Street Journal reported, citing unnamed sources. The Fortis operation only has 75 existing customers, but could be a stepping stone for ICBC's expansion into the underwriting of securities in the US market, the sources said. (SingTao Daily B4)
Orange Sky Golden Harvest Entertainment (1132 HK) saw profit climb 1.05 times to HK$39 million for the 9 months ended 30 Sep. Cash on hand went down to HK$519 million. No dividend was declared. (Hong Kong Economic Journal P12)
The Wharf (4 HK) has successfully bid for a plot of land situated at Jiangbei District, Ningbo City, with a floor area of around 77,900 sqm, at a consideration of 1.043 billion yuan. The site will be developed to high-end multi-storey residential buildings. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
