Beijing Jingklong (814 HK) announces it will acquire the entire equity interest of Shou Lian Supermarket, a state-owned enterprise which has been suffering from losses, at the consideration of 120 million yuan. (SingTao Daily B4)
Market sources say Henderson Land Development chairman Lee Shau Kee subscribes for Changsha Zoomlion Heavy Industry (1157 HK) shares at US$30 million-50 million. Lee has reportedly subscribed for China Datang Corporation Renewable Power (1798). (Hong Kong Economic Journal P8)
Deutsche Bank maintains Buy rating on BOC Hong Kong (2388 HK), setting a HK$27.4 price target for its shares. (Hong Kong Economic Times A4)
China Boon Holdings (922 HK) announces that the consideration of acquiring a mainland funeral services business has been slashed by around 60 per cent to HK$1.15 billion. After completion of the deal, the company will operate a first class cemetery in Jinshan District, Shanghai with a total area of not less than 422 mu. (SingTao Daily B4)
China Haidian (256 HK) plans to place 390 million shares at a price of HK$1.3-1.4 per share, seeking to raise up to HK$540 million. The placing price represents a discount of 7-14 per cent to its closing price of HK$1.51 yesterday. (SingTao Daily B4)
China Power International Development (2380 HK) issues 3.2 per cent RMB denominated bonds due 2015. The issue was 10 times oversubscribed. Standard Chartered is the manager to the issue. (Hong Kong Economic Journal P10)
Chu Kong Shipping (560 HK) further strengthens its cooperation with China Merchants Holdings (International) Company Limited (144) by introducing it to be a strategic investor of its subsidiary Chu Kong River Trade Terminal. (SingTao Daily B4)
CST Mining Group (985 HK) has entered into an agreement to sell 15,000 tonnes of copper
cathodes from its Lady Annie Operations to MM Kembla over the 2011 calendar year. This represents about 60 per cent of Lady Annie’s production next year. (SingTao Daily B4)
Dragon Crown Group (935 HK) prices its shares between HK$1.35 and 2.05. Maximum offer price a board lot of 2000 shares is HK$4141.32. The IPO opens on Dec 15 and will close on Dec 20. Listing date is Dec 29. (Hong Kong Economic Journal P8)
Value Partners (448 HK) has disposed around 1.512 million shares of Hang Ten Group at an average price of nearly HK$2.51 per share, seeking to raise almost HK$4 million. In addition, Veeko International also aims to place 100 million shares to CAM Global Funds and JP Morgan, at a price of HK$0.45 apiece. (SingTao Daily B2)
Hong Kong Exchanges and Clearing (388 HK) resolves to provide HK$7.2 million for the purchase of HKEx shares to be awarded to its chief executive Charles Li Xiaojia. It also provides HK$114 million for the purchase of shares to be awarded to selected employees. (Hong Kong Economic Times A10)
Linmark Group (915 HK) announces that its net profit for the half year ended 31 Oct this year was about HK$4.8 million, representing a yoy increase of 40.5 per cent. Earnings per share were US0.1 cent. (SingTao Daily B4)
Sino-Ocean Land Holdings (3377 HK) enters into MOU with Golden Success, a member of Nan Fung, planning to set up a JV to bid for certain sites in Chaoyang District, Beijing. Total capital commitment of Sino-Ocean Land is yet to be determined. (Hong Kong Economic Times A12)
SRE Group (1207 HK) announces that its contracted sales for the first 11 months this year amounted to approximately HK$4 billion, with floor area of about 200 thousand sq. m. China New Town Development Company Limited (1207), which is owned by the company as to 61.54 per cent, contributed turnover of about 1.6 billion. (SingTao Daily B4)
United Energy Group (467 HK) signs an agreement with BP to acquire its upstream oil and gas businesses in Pakistan at US$775 million in cash. The assets it acquires include 120 producing crude oil and natural gas wells with an average net production of 35000 barrels of oil equivalent a day. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
