Tuesday, December 14, 2010

Hong Kong Stock Market Wrap December 13th, 2010

Headland Capital Partners placed 201 million shares of Bosideng International (3998 HK) via Goldman Sachs at a price ranging from HK$3.56 to HK$3.62 per share, representing a 3.5-5.1 per cent discount to its closing price of HK$3.75 yesterday, according to market sources. The proceeds from the share placement will be over HK$727million. (SingTao Daily B2)

Cheung Kong (Holdings) (1 HK) chairman Li Ka Shing bought in 1.361 million shares during 7-9 Dec, involving around HK$155.6 million. Li bought in 1.049 million shares during 2-6 Dec, involving approximately HK$121.75 million. (Hong Kong Economic Journal P12)

China Eco-Farming (8166 HK) announced the sale and purchase agreement entered into in August lapsed. On the other hand, the company will place up to a maximum of 150 million new placing shares at HK$0.25 per share to raise HK$36.5 million, HK$21 million of which will be used to repay debts. (SingTao Daily B3)

China Suntien Green Energy Corporation (956 HK) has entered into a strategic co-operation framework agreement with Shanxi International Energy Group Gas Investment & Management Co., Ltd. to construct two pipelines from Shanxi to Xunzhen for the provision of natural gas in Shanxi province. (SingTao Daily B3)

China Water Industry Group (1129 HK) has entered into a non-legally binding LOI, planning to acquire the entire issued share capital of Zhongtian Company that is principally engaged in sewage treatment business in Guangdong Province, at a consideration of not exceeding HK$200 million. (SingTao Daily B3)

Hengdeli Holdings (3389 HK) has entered into an agreement to purchase 80 per cent equity interest in Tianjin Hengdeli without disclosing the consideration amount. Upon completion of the acquisition, the company will hold over 90 per cent of market share in the middle to high-end import watch market. (SingTao Daily B3)

Hengxin Technology (1085 HK) plans to issue 98.68 million shares, around 47.3 per cent of which are existing shares. Maximum offer price a lot of 2000 shares is around HK$6060.5. (Hong Kong Economic Journal P6)

Hopson Development (754 HK) announces that the consideration for acquiring the Beijing project from Chu Yat-hong, son of the company’s chairman Chu Mang-yee, will be reduced by 270 million yuan to 6.605 billion yuan. The amount of cash consideration will remain unchanged. (SingTao Daily B3)

Huaneng Power International (902 HK) announces that Suzhou Port Taicang Terminal Zone Huaneng Coal Pier Construction Project has been approved by the National Development and Reform Commission of the PRC. The total investment amount of the project is around 2 billion yuan, 30 per cent of which is to be funded by internal funds. (SingTao Daily B3)

Hutchison Whampoa (13 HK) announces that the terms of contracts regarding 2 pieces of lands in Wolong Bay International Business District, Dalian have been agreed with the Dalian Land Bureau. The lands have an aggregate gross area of about 319,000sqm and will be developed into residential and commercial properties. (Hong Kong Economic Times A12)

Kaisa Group (1638 HK) chairman Kwok Ying Shing and his family bought 15.628 million shares at an average price of around HK$2.179 per share on 10 Dec, taking shareholding in the company from 59.08 per cent to 59.4 per cent. Kwok says this is to show his confidence in the group. (Hong Kong Economic Journal P11)

Ping An Insurance (2318 HK) announces that subsidiaries Ping An Life, Ping An Property & Casualty, Ping An Health and Ping An Annuity recorded accumulated written premiums of 147.558 billion, 55.553 billion, 168 million and 4.655 billion yuan respectively for the first 11 months. (Hong Kong Economic Times A12)

Sands China (1928 HK) announces that David Fleming will replace Anne Maree Salt as a joint company secretary starting Jan 10, 2011. Fleming has joined the company since 2007. He has worked as a deputy legal director of MTR (0066) previously. (Hong Kong Economic Journal P10)

Shui On Land (272 HK) proposes to conduct an international offering of notes, which will be denominated in RMB and settled in US dollar, to institutional investors in Asia and Europe. The proceeds from the notes issue will be used for repaying part of debts and for general working capital. (SingTao Daily B3)

Market sources say World Wide Touch Technology (1282 HK) prices its shares at HK$0.95 each and its retail tranche was 18x oversubscribed. (Hong Kong Economic Journal P6)

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