Tuesday, November 23, 2010

Hong Kong Stock Market Wrap November 22nd, 2010

IPO: China Datang Corporation Renewable Power at first planned to kick off roadshow this Wed and list in HK on 9 Dec to raise up to US$1 billion. It is said that it will postpone the IPO and will not list in HK this year. (Hong Kong Economic Journal P3)

IPO: China Gold International Resources closed its retail book yesterday. Retail tranche was reportedly at least over 22 times oversubscribed on strong gold prices, locking in over HK$5.5 billion. (Hong Kong Economic Times A12)

The number of subscribers of China Mobile (941 HK) increased by 5.259 million to 575 million in Oct. The number of 3G subscribers increased by 1.71 million to 16.98 million. (Hong Kong Economic Times A10)

China New Materials Holdings (1887 HK) kicked off roadshow yesterday. It is to raise around 682 million- 975 million. Maximum offer price a board lot of 1000 shares is HK$3363.57. (Hong Kong Economic Journal P3)

China Shipping Development (1138 HK) has signed agreements with Jiangnan Changxing Heavy Industry and China Shipbuilding Trading Company in relation to the construction of four bulk vessels each of 180,000 dead weight tons. The total consideration is around HK$1.656 billion. The expected delivery date for the vessels is by the end of 2012. (SingTao Daily B3)

HKR International (480 HK) booked an interim profit of HK$711 million for the six-month period ended Sep 30, increasing by 8 per cent. An interim dividend of 7 HK cents per share was declared. (SingTao Daily B3)

Net profit for Man Wah Holdings (1999 HK) surged 46 per cent year on year to HK$370 million for the six months ended Sep 30. Revenue soared 49.2 per cent to HK$1.98 billion. Earnings per share rose 7.2 per cent to 38.7 HK cents. An interim dividend of 13.4 HK cents per share was declared. (SingTao Daily B4)

Minmetals Land (230 HK) and Beijing Vanke Enterprise Co., Ltd. have jointly made successful bids for two parcels of land located in Haidian District, Beijing for 5.227 billion yuan. Minmetals will make a contribution of 2.666 billion yuan, bearing 51 per cent of the total consideration. (SingTao Daily B3)

Next Media (282 HK) booked revenue of HK$1.7 billion for the 6 months ended 30 Sep, up 13.3 per cent. Net profit fell 36.4 per cent to HK$76 million. No interim dividend will be paid. (Hong Kong Economic Journal P9)

Oriental Watch Holdings (398 HK) reportedly places 50 million shares at HK$4.28-4.38 a share, 12 per cent and 14 per cent discount to yesterday’s closing price of HK$4.98, to raise 214 million –219 million. (Hong Kong Economic Journal P9)

Pearl Oriental (632 HK) Innovation has entered into an exclusivity agreement with Ross Energy for a possible investment, which involves conducting development and exploitation at certain oilfields in Russia. (SingTao Daily B3)

Sateri Holdings (1768 HK) reportedly plans to issue 505.33 million shares at between HK$6.6 and 9.2 a share to raise up to US$600 million, lower than the previously expected US$1 billion. Maximum offer price a lot of 500 shares is around HK$4600. (Hong Kong Economic Journal P3)

Shengli Oil & Gas Pipe (1080 HK) expects to record a substantial and continuing decrease in revenue and profit for the year ending 31 Dec 2010. In addition, the company plans to acquire 25 per cent equity interest in Beijing Golden Fortune Investment Co., Ltd., at a consideration totalling 300 million yuan. (SingTao Daily B3)

Tack Hsin Holdings (611 HK) expects to record a significant increase in profit for the six-month period ended Sep 30. The surge in profit is mainly due to fair-value adjustment arising from derivative financial instruments issued during the period. (SingTao Daily B3)

Texwinca Holdings (321 HK) saw net profit rising 5 per cent year on year to HK$505 million for the six months ended Sep 30. Earnings per share amounted to 37.8 HK cents and an interim dividend of 23 HK cents per share was distributed. (SingTao Daily B3)

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