HKEx data shows that Bank of America sold its entitlement in the rights issue of China Construction Bank (939 HK) to Tamasek Holdings on Nov 10, involving 1.79 billion shares. The rights to buy the CCB shares was priced at HK$1.874 apiece, involving HK$3.354 billion. (SingTao Daily B2)
China Vanadium Titano-Magnetite Mining (893 HK) plans to purchase the Huili Caitong equity interest and the Aba equity interest held by substantial shareholder Chuan Wei, at a total consideration of 595.4 million yuan. (Sing Tao Daily B2)
Dah Sing Banking Group (2356 HK) proposes a rights issue of not less than 111 million rights shares at HK$9 apiece, 41 per cent discount to yesterday’s closing price of HK$15.24, on the basis of 1 rights share for every10 shares held. The bank expects to raise up to around HK$1 billion. (Hong Kong Economic Times A12)
Dah Sing Financial (440 HK) proposes a rights issue of not less than 32.533 million rights shares at HK$36.89 each, 40 per cent discount to yesterday’s closing price of HK$61.45, on the basis of 1 rights share for every 8 shares held to raise no less than HK$1.2 billion. (Hong Kong Economic Times A12)
Datang International Power Generation (991 HK) announces that the Sichuan Daduhe Changheba Hydropower Station Project, which is controlled, organized, constructed and operated by the company, has recently been approved by the National Development and Reform Commission. The total investment amount will be 21.9 billion yuan. (SingTao Daily B2)
Xiamen Bank has announced a rights issue of 198 million new shares at 2.71 yuan each. Fubon Bank (Hong Kong) (636 HK), holding a 19.99 per cent share in the bank since 2008, will fully subscribe its allocated 39.58 million shares at a total subscription price of 107 million yuan. (Hong Kong Economic Times A12)
Giordano International’s (709 HK) Q3 sales rose 16.9 per cent yoy; sales for the first 3Qs were up 10 per cent yoy. Q3 gross margin was 56.7 per cent, up 4.6 percentage points yoy, 1.2 percentage points lower than 1H10 on customary seasonend promotions. Gross margin for the first 3Qs lifted 8.1 percentage points yoy to 57.5 per cent. (Hong Kong Economic Times A10)
Lansen Pharmaceutical (503 HK) intends to acquire 20 per cent equity interest in Zhejiang Starry Pharmaceutical Co., Ltd., at a consideration of 160 million yuan. Starry is the largest iohexol manufacturer in the mainland. (SingTao Daily B2)
Leoch International Technology (842 HK) shares closed at HK$4.67 each yesterday, down 12.71 per cent over the offer price of HK$5.35 a share. Not taking charges into account, shareholders suffered a paper loss of HK$680 for a board of 1000 shares. (Hong Kong Economic Journal P4)
MTR Corporation (66 HK) announced yesterday in relation to a US$3 billion debt issuance program for the issue of notes with maturities of between one month and 30 years. The company has applied for the listing of the notes. (SingTao Daily B2)
Next Media Limited (282 HK) makes a clarification in relation to its television investment. The media company says that it does not plan to invest HK$2.55 billion in set-up-boxes of an open internet based IPTV platform project. Details of the project are still under discussion and evaluation. (SingTao Daily B2)
Shui On Construction and Materials (983 HK) has acquired 72.7 per cent equity interest of Shanghai 21st Century Real Estate Co. Ltd., situated at Pudong New Area, at a consideration of 900 million yuan. (SingTao Daily B2)
Sino Biopharmaceutical (1177 HK) saw a third-quarter profit of HK$127.8 million for the quarter ended Sep 30, leaping nearly 31 per cent year on year. A third-quarter dividend of 2 HK cents per share was declared. (SingTao Daily B2)
Skyworth Digital (751 HK) expects net profit for the 6 months ended the end of Sep to go down sharply yoy chiefly because sales volume and gross profit margin for sale of TV had gone down. It, however, expects the figure to be much higher than that for each of the 1H of the past financial years, except that for the 1H 2009/10, since it floated its shares in 2000. (Hong Kong Economic Times A10)
Mainland housing stocks generally went down yesterday as securities firms have been giving bearish comments on them. Credit Suisse expects housing prices and trading volume will continue to go down and mainland banking stocks will underperform. UBS suggests holding shares of developers such as SOHO China (410 HK) and Agile Property (3383), saying that the former has relatively better sales performance and the latter has solid financial strength. (Hong Kong Economic Journal P2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
