Thursday, December 9, 2010

Hong Kong Stock Market Wrap December 8th, 2010

IPO: Topspring cancelled its roadshow yesterday. Sources say the company plans to go public in Q111 instead. (Hong Kong Economic Times A10)

AEON Stores (Hong Kong) (984 HK) has agreed to purchase a property in Kwai Chung at HK$310 million, planning to use it as its HK headquarters and as a place for distribution and processing facilities. The building located at Kung Yip Street comprises 15 storeys. Existing monthly rental is about HK$1.6 million. (Hong Kong Economic Journal P8)

An institutional investor of Beijing Enterprises (392 HK) was placing 18.5 million shares in the company at a price of HK$48.7-49.1 per share, seeking to raise up to HK$908 million, Reuters citing a termsheet reports. (SingTao Daily B3)

Dragonite International (329 HK) received a writ and a statement of claim from BOCI Asia Limited on 22 Sep 2010 claiming a sum of HK$4.47 million being service fees for the debt restructuring of the company. In response to the claim, Dragonite has filed a defence and counterclaim against BOCI Asia counterclaiming a sum of HK$236 million on 3 Dec 2010. (SingTao Daily B3)

Emperor Capital Group (717 HK) earned HK$72.11 million for the year ended 30 Sep. It proposed the payment of a final dividend of HK$0.015 a share. Loans and Financing revenue was up by 1.12x to HK$47.3 million. (Hong Kong Economic Journal P10)

Evergrande Real Estate (3333 HK) posted a record of 6.56 billion yuan in contracted sales in Nov, boosting the total for the first 11 months up to 47.72 billion yuan, having achieved its full-year target in advance. The developer expects contracted sales this year to exceed 50 billion yuan and double in 2012. (SingTao Daily B5)

Glorious Property (845 HK) announces that its contracted sales in Nov amounted to 2.242 billion yuan, boosting the total contracted sales for the first 11 months up to 10.013 billion yuan, soaring 94.32 per cent year on year. (SingTao Daily B3)

Greatview Aseptic Packaging (468 HK) shares closed at HK$4.4 in the gray market yesterday, 2.3 per cent higher than its IPO price of HK$4.3. Holding a lot generated a paper gain of HK$100. (Hong Kong Economic Times A10)

Hidili Industry (1393 HK) International expects its raw coal production plan for 2011 to be slashed by about 600,000 tonnes from the original of 5.5 million tonnes.
(SingTao Daily B3)

Husky Energy, a subsidiary under Hutchison Whampoa (13 HK), has confirmed the deal with China National Offshore Oil Corporation to develop the Liwan 3-1 gas field in the South China Sea. The gas field will be owned by Husky and CNOOC as to 49 per cent and 51 per cent respectively. (SingTao Daily B3)

International Mining Machinery (1683 HK) will set up a JV under the name of Shanxi Meijia Mining Machinery. It will hold 49 per cent of the equity interest. Registered capital of the JV company will be 69 million yuan, 33.81 million yuan of which will be contributed by it. (Hong Kong Economic Journal P6)

Sateri Holdings (1768 HK) shares ended at HK$6.5 each on their first day of trade, 1.5 per cent lower than its issue price of HK$6.6. Investors suffered a paper loss of HK$50 for holing a board lot, not taking charges into account. (Hong Kong Economic Times A10)

See Corporation (491 HK) has entered into a non-legally binding MOU, planning to acquire from a company connected to its managing director Wong Kui Shing Danny at HK$300 million cash and/ or promissory notes a company engaged in investments on renewable resources projects in Lao PDR, with a focus on developing plantation of Eucalyptus and the R&D of bioenergy. (Hong Kong Economic Journal P10)

Yuexiu Property (123 HK) booked contracted sales of 393 million yuan in Nov, down 53 per cent year on year. Contracted sales for the first 11 months rose 36 per cent to a total of 8.079 billion yuan year on year. (SingTao Daily B3)

Yuzhou Properties (1628 HK) has issued 5-year senior notes, but the raising amount was slashed from the original of US$300 million to US$150 million, according to foreign media. (SingTao Daily B3)

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