Thursday, December 2, 2010

Hong Kong Stock Market Wrap December 1st, 2010

Capital VC Limited (2324 HK) has planned to place 64.91 million shares at a price of HK$0.35 per placing share, seeking to raise HK$22.17 million. The net proceeds will be used for investment and for general working capital. (SingTao Daily B4)

Cash Financial Services Group (510 HK) proposes to subdivide each existing share into five subdivided shares. The shares are currently traded in board lot size of 2,000 shares. Upon the subdivision becoming effective, the board lot size will be changed from 2,000 shares to 6,000 subdivided shares. (Hong Kong Economic Journal P12)

Champion Technology (92 HK) proposes to raise around HK$271.2 million by issuing 1.808 billion rights shares on the basis of four rights shares for every nine existing shares. The subscription price of HK$0.15 per rights share represents 37.8 per cent discount to the closing price of HK$0.241 per share before the trading suspension. (Hong Kong Economic Journal P12)

Ningbo Port of China Merchants Holdings (International) (144 HK) has raised loading and unloading rates of foreign trade containers by 8 per cent, effective 1st January 2011. (SingTao Daily B4)

China Water Industry Group (1129 HK) aims to acquire interests of several target companies for a maximum aggregate consideration of HK$50 million. The target companies are principally engaged in sewage treatment business in the mainland. (Hong Kong Economic Journal P12)

Chinese Estates Holdings (127 HK) announces that Lau, Ming-wai, a non-executive director of the company, has been appointed as the vice chairman with effect from 1st December 2010. (SingTao Daily B4)

Chongqing Rural Commercial Bank (3618 HK) is set to open its retail book tomorrow. According to its sales documents, the lender will offer 2.185 billion shares, more than the previous market forecasts of 2 billion shares. The IPO size will thus be increased to as much as HK$13.113 billion in terms of an offer price of HK$4.5-HK$6 apiece. (Hong Kong Economic Journal P6)

Guangzhou R&F Properties’ (2777 HK) contracted sales amount for Nov was 4.438 billion yuan, shooting up 103 per cent year on year, and soaring 77 per cent month on month. Sales area went up 45 per cent year on year to 250,600 square meters. (Hong Kong Economic Times A12)

HSBC (5 HK) Private Equity (Asia), a subsidiary under HSBC, has completed acquisition by its management, renaming itself Headland Capital Partners Ltd. (SingTao Daily B4)

Huaneng Power International (902 HK) plans to acquire 50 per cent equity interest in Times Shipping Co., Ltd from its parent China Huaneng Group, at a consideration of 1.058 billion yuan. (SingTao Daily B4)

KH Investment Holdings (8172 HK) aims to acquire the china TV commercial business from Media China Corporation Limited (0419), at a consideration of HK$82 million. (SingTao Daily B4)

Luk Fook Holdings (International) (590 HK) aims to place 42 million shares at a price between HK$23.15 and HK$24.72 by way of top-up placing, seeking to raise up to HK$1.04 billion, according to sales documents. (Hong Kong Economic Journal P6)

Mitsumaru East Kit (2358 HK) has signed a loan agreement with China Water Affairs Group (0855). Pursuant to which the latter agrees to make available to MEK a loan up to an amount of HK$100 million. (SingTao Daily B4)

Pioneer Global Group (224 HK) fetched around HK$54.6 million after disposal of properties situated at North Point for HK$190 million. The properties sold include several units and parking spaces of the podium of blocks 1, 2 and 3, City Garden, North Point and portion of exterior wall thereof for signboard. (SingTao Daily B4)

Skyworth Digital’s (751 HK) first half net profit fell 38 percent to HK$354 million. However, the company expects its gross profit margin to improve in the second half by selling more higher margin LED televisions. (Hong Kong Economic Times A12)

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