Monday, November 8, 2010

Hong Kong Stock Market Wrap November 4th, 2010

IPO: It is said that China Hongqiao, producer of aluminum hydroxide, plans to go through listing hearing in mid-Nov to raise around 11.7 billion. JP Morgan, ICBC International, Bankcomm and BNP Paribas sponsor the IPO. (Hong Kong Economic Journal P10)

Agile Property Holdings (3383 HK) recorded contracted sales of 22.6 billion yuan for the first 10 months. 91 per cent of its full-year contract target was achieved. Contracted sales area reached around 2.05 million sqm. Oct contracted sales was 5.4 billion yuan, with contracted sales areas of 410,000 sqm. (Hong Kong Economic Times A15)

China Southern Airlines (1055 HK) intends to acquire six Airbus A330 aircraft and 30 Airbus A320 series aircraft from Airbus SNC for around HK$29.3 billion. The total consideration of US$3.78 billion will be partly payable by cash and partly by financing arrangements with banking institutions. The company expects the Airbus aircraft to increase its available tonne kilometers by 14 per cent. (SingTao Daily B3)
Convenience Retail (8052 HK) Asia posted a net profit of HK$104 million for the first nine months ended Sep 30, surging over 61 per cent year on year. Earnings per share amounted to 14.18 HK cents. No third-quarter dividend was declared. (SingTao Daily B3)
Country Garden (2007 HK) booked a 42 per cent increase in contracted sales revenue for Oct, amounting to 5.1 billion yuan. Contracted sales revenue for the first ten months was 26.9 billion yuan, leaping 65 per cent over the same period last year. (SingTao Daily B3)
Crocodile Garments’ (122 HK) recorded a net profit of HK$163 million for the year ended 31 Jul 2010, rising over 14 per cent. No dividend was distributed. (SingTao Daily B3)
Evergreen International Holdings (238 HK) first listed on the bourse yesterday. Share price opened at HK$6, had reached as high as HK$6.31 and closed at HK$5.8, 26.08 per cent higher then its IPO price of HK$4.6. Without taking charges into consideration, shareholders gained HK$1200 for a lot of 1000 shares. (Hong Kong Economic Journal P10)
Hong Kong Exchanges and Clearing’s (388 HK) share price has gone up to HK$184.8, almost 3-year high. Although investment bank Credit Suisse expects its Q3 results to go backwards, it is optimistic about its outlook, maintaining a target price of HK$197. (Hong Kong Economic Journal P8)

HSBC Canada reported a net profit of CAD$89 million for the third quarter, down 11.9 per cent from the same period a year ago. Its net profit for the first three quarters rose 8.3 per cent year on year to CAD$325 million. (SingTao Daily B3)

King Stone Energy (663 HK) plans to acquire a company that sells products including coal and has coal-related clean energy technology at a consideration of HK$3.54 billion. After that, it will hold 60 per cent equity interest in a controlling company of 2 coal mine projects in Shanyin County, Shuozhou City, Shanxi. (Hong Kong Economic Journal P10)

Manulife Financial (945 HK) booked net loss of C$947 million in Q3. Total revenue was C$13.14 billion, down 4.5 per cent yoy. A quarterly dividend of C$0.13 per share was declared. (Hong Kong Economic Times A14)
Mongolia Energy (276 HK) has signed agreement with OZ Management LP for issuing HK$466.8 million worth 3.5 per cent coupon 3-year convertible notes, totaling HK$778 million. The initial conversion price is HK$3.4 per share, representing a premium of 11.48 per cent to its closing price on Nov 3. (SingTao Daily B3)

Shirble Department Store (312 HK) plans to offer up to 625 million shares at an offer price ranging between HK$1.85 to HK$2.55 each to raise 1.156 billion to 1.594 billion. It kicks off its IPO today and will list on 17 Nov. Maximum offer price a lot amounted to HK$5151.4. (Hong Kong Economic Journal P10)

Sunrise Electronic Industry Limited (2000 HK), a wholly-owned subsidiary of the company, plans to sell 40 per cent equity interest of SIM Real Estate to Beijing Telecom Real Estate Development Corporation, at a consideration of US$8 million. (SingTao Daily B3)

Sino Union Energy (346 HK) has entered into an agreement with Asia Private Credit Fund Limited for the subscription of 206 million shares at HK$0.675 apiece, representing a discount of around 0.74 per cent to its closing price yesterday. The net proceeds will be around HK$139 million. (SingTao Daily B3)

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