Allied Group (373 HK) announced it would dispose 1.145 billion shares in SHK Hong Kong Industries Limited (666) to Rising Fortune Group at $0.41 per share. (SingTao B3)
Cafe de Coral (341 HK) announced it would have salary adjustment in January next year and the average salary raise would be 7 per cent. (Hong Kong Economics Journal P.6)
China Power (2380 HK) announced that it proposed an issue of 5-year unsecured RMB denominated bonds in Hong Kong to raise not less than 600 million yuan. (Hong Kong Economics Times A10)
Fountain (420 HK) recorded a profit of $223 million for the year ended 31 August 2010. (SingTao B3)
HSBC (5 HK) announced the appointment of Samir Assaf as Chief Executive of its Global Banking and Markets business with effect from 1 January 2011. He succeeds Stuart Gulliver who becomes Group Chief Executive on the same date. (Hong Kong Economics Times A10)
Shangri-la (69 HK) announced right issue of $4.659 billion at $19.5 each on the basis of 1 right issue for every 12 shares, in order to repay its most bank borrowings and to save interest costs. (Hong Kong Economics Times A11)
Shui On (272 HK) proposed to issue RMB notes of $400 million. The roadshow will take place next week in HK and Singapore. (Hong Kong Economics Journal P.7)
China Longyuan Power Group (916 HK) plans to issue yuan bonds in HK next year, expecting the offer size to be 1 billion to 2 billion yuan at the first time. It expects 2010 profit will far exceed its target of 1.77 billion yuan. (Hong Kong Economic Journal P12)
China Financial International Investments (721 HK) has agreed to place 596.96 million new shares at HK$0.25 a share to raise around HK$149 million, about 16.55 per cent of the issued share capital as enlarged. (Hong Kong Economic Journal P8)
China Foods (506 HK) revises up the annual caps of the CPMC Products Supply Agreement for 2010 and 2011 to 15 million and 80 million yuan respectively. (SingTao Daily B17)
China Molybdenum (3993 HK) plans to apply to the relevant authorities in the PRC for issuing not more than 542 million A shares. The proceeds is intended to apply on various projects with a total estimated investment amount of around 3.788 billion yuan. (Hong Kong Economic Journal P8)
China Singyes Solar Technologies (750 HK) was awarded a BIPV project in the Centennial Campus of the University of Hong Kong. Total contract value of the project is HK$2.45 million. (SingTao Daily B17)
L’Occitane International (973 HK) announces that its parent L’Occitane Groupe placed 50 million ordinary shares, around 3.4 per cent of the total issued shares, at a price of HK$21.14 per share on 10 Dec. The shareholding of L’Occitane Groupe in L’Occitane International went down from 72.6 per cent to 69.2 per cent after the placing. (Hong Kong Economic Times A14)
Fantasia Holdings Group (1777 HK) successfully auctioned through Shenzhen Zhifu Real Estate Investment Development for a piece of land in Yuhuatai District, Nanjing City with a useable area of about 55,400sqm for 280 million yuan. The site has been approved for commercial use and its term of grant is 40 years.
(SingTao Daily B17)
Tiande Chemical (609 HK) entered into an LOI with Shandong Heneng Electricity Equipment and Shandong Haiwang Chemical last Fri. It will conduct due diligence review on the acquisition of Shandong Haiheng Chemical within 3 months. (SingTao Daily B17)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
