Friday, December 10, 2010

Hong Kong Stock Market Wrap December 9th, 2010

Ausnutria Dairy Corporation (1717 HK) has agreed to purchase premises with an aggregate construction area of about 2,700 square meters from Changsha Xin Xin Da Xin Real Estate for the use as its office premises in Changsha at around 24.67 million yuan. (SingTao Daily B3)

AV Concept Holdings (595 HK) reportedly plans to place 62.95 million shares at HK$1.6 each, 16.2 per cent discount to yesterday’s closing price of HK$1.91. (Hong Kong Economic Journal P8)

Birmingham International (2309 HK) acquires from a substantial shareholder a parcel land in Sha Ping District, Chongqing at a consideration of 75 million yuan. The site is being developed into commercial buildings with a total gross floor area of 57,400 sqm. (SingTao Daily B3)

China Glass (3300 HK) has participated in the bidding held by Qingdao Equity Exchange for acquiring 18 million ordinary shares of Weihai Bluestar Glass, around 17.46 per cent of the issued shares in Weihai Bluestar, from Qingdao Soda Ash Industrial. (SingTao Daily B3)

China Metal Recycling (773 HK) reportedly has placed 60 million shares at a price of HK$7.85-8.2 per share via Merrill Lynch Far East. (Hong Kong Economic Times A12)

China Overseas Land & Investment (688 HK) posted sales of 58.72 billion for the first 11 months, up 30.5 per cent yoy, achieving 98 per cent of the full-yr sales target of 60 billion. (Hong Kong Economic Times A12)

China ZhengTong Auto Services (1728 HK) shares ended at HK$7.4 each at the gray market yesterday, 1.37 per cent higher than its IPO price of HK$7.3. (Hong Kong Economic Journal P8)

Chigo Holding (449 HK) plans a bonus issue on the basis of 9 bonus shares for every 1 existing share to shareholders to show its gratitude for their loyalty and support. The company believes the issue will increase its capital base and enhance shares liquidity, enlarging its shareholders’ base. (SingTao Daily B3)

Huadian Power International (1071 HK) announces that it will acquire Bailu Coal Mine, Xijiazhai Coal Mine and Yibanling Coal Mine in Shanxi Province at 1.589 billion yuan. (SingTao Daily B3)

Prosperity International (803 HK) will increase stake in Lead Hero via a subsidiary in order to obtain the 50 per cent interest in certain iron ore mines in Brazil that Lead Hero holds. The deal involves US$20 million. (SingTao Daily B3)

Sino-Ocean Land (3377 HK) saw sales rise 33 per cent yoy to 18.2 billion yuan for the first 11 months, exceeding the full-yr sales target of 18 billion yuan. (Hong Kong Economic Times A12)

SRE Group (1207 HK) has agreed to allot and issue to several substantial shareholders a total of 700 million subscription shares at the price of HK$0.81 each to raise HK$567 million. (Hong Kong Economic Times A12)

Titan Petrochemicals (119 2HK) announces that a framework agreement has been signed in respect of a proposed disposal of 95 per cent of equity interests in Titan Quanzhou Shipyard for around 1.866 billion yuan and an issue of 500 million new shares. (SingTao Daily B3)

Yue Yuen Industrial (Holdings) (551 HK) reported net consolidated operating revenue of around US$553 million in Nov. The figure was around US$5.56 billion for the first 11 months. (SingTao Daily B3)

Yuzhou Properties Company (1628 HK) has completed an issue of US$200 million 13.5 per cent senior notes due 2015. It intends to use the net proceeds to repay certain existing loans and fund the acquisition of land. (Hong Kong Economic Times A12)

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