Monday, January 3, 2011

Hong Kong Stock Market Wrap December 30th, 2010

According to the HKEx, fund Wellington bought 10.18 per cent stake in Changsha Zoomlion (1157 HK) at HK$15.364 per share on average on the shares’ debut. Shares rose 5.19 per cent yesterday to end at HK$17.44 each. (Hong Kong Economic Times A8)

China Communications Construction (1800 HK) proposes to issue not more than 3.5 billion A shares, which will represent 19.1 per cent of the enlarged issued share capital. The issue is subject to the approval from the CSRC. (Hong Kong Economic Journal P4)

CEA (670 HK) announces that it has entered into an agreement in respect of the purchase of fifty Airbus A320 series aircrafts. The basic price of those aircrafts in aggregate is approximately USD3.224 billion (equivalent to approximately 21.407 billion yuan) based on the relevant price catalog. (Sing Tao Daily B2)

Carlyle sold 216 million shares of China Pacific Insurance (2601 HK) for HK$6.728 billion, HK$31.15 per share, immediately after lockup period. Share price of CPI was not affected yesterday, closing at HK$32.1, up 2.39 per cent. (Sing Tao Daily B1)

China Ting Group (3398 HK) announces that Hangzhou China Ting Property has been approved to be established on 24 Dec. It is held as to 49 per cent by Zhejiang China Ting and 51 per cent by Zhejiang Huading Property. Total investment amount is 40 million yuan. (Hong Kong Economic Journal P6)

According to the information of Hong Kong stock exchange, Emperor Watch & Jewellery’s (887 HK) major shareholder, Yeung Sau Shing, acquired 900 thousand shares on Dec 24, increasing his shareholding to 61.83 per cent. (Sing Tao Daily B2)

Haier Electronics (1169 HK) announced yesterday that it acquires 51 per cent equity interest in Yantai Goodaymart from Henan Goodaymart at the consideration of 18.8 million yuan. It also announced that it and 山東久聯貿易有限公司 (Shandong Jiu Lian Trading Limited) contributed 10.2 million yuan and 9.8 million yuan respectively to establish a joint venture company, Shandong Goodaymart. (Sing Tao Daily B2)

Kaisa Group (1638 HK) posted full-year sales area of 867,300 sqm and sales income of 10.104 billion yuan, up 26.8 per cent and 67.1 per cent yoy respectively. (Hong Kong Economic Journal P6)

KEE Holdings’ (2011 HK) offer price is HK$1.33 per share. Maximum offer price a lot is HK$2686.81. 60 per cent of the proceeds will be invested in a newly built plant in Hubei. The company expects the new plant to come on stream in 2012. The company’s major clients include Li Ning (2331). (Hong Kong Economic Times A8)

King Stone Energy (663 HK) has agreed to allot and issue 500 million shares to Chinarise Financial and Success Business Holdings separately at HK$0.21 per share to raise around HK$208 million. (Hong Kong Economic Journal P5)

Luoyang Glass (1108 HK) announces its plan of reducing the number of employees by 1,500. It is estimated about 75 million yuan need to be paid as economic compensation. (Sing Tao Daily B2)

Market sources say Newtree Group’s (1323 HK) international placing was well received and was oversubscribed 2-3 times so far. The shares will be listed in Hong Kong on 13 Jan. (Hong Kong Economic Journal P5)

Soho China (410 HK) announces that is has entered into an acquisition agreement with 北京中冠房地產開發有限公司 (Beijing Zhong Guan Real Estate Development Company Limited) to acquire 中冠大廈項目 (Zhong Guan Building Project) located at ZhongGuanCun, Haidian District, Beijing with consideration of 1.155 billion yuan. (Sing Tao Daily B2)

Vale S.A., (6210 HK) the first HDR in HK, announces that it will distribute an extraordinary dividend of US$1 billion, i.e., about HK$1.49 per each HDR in HK. (Sing Tao Daily B2)

Warderly (607 HK) announces that its net profit for the half year ended Oct 31 rose 0.05 per cent to HK$3.43 million, with earnings per share of HK1 cent. No interim dividend is to be distributed. (Sing Tao Daily B2)

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