According to Brilliance China’s (1114 HK) chairman Wu Xiao An, the company’s BMW sales is strong in the second half of the year, the full-year sales is expected to reach 70 thousand, better than the target of 65 thousand. (Hong Kong Economic Journal P.4)
Datang Renewable Power (1798 HK) and Biostime (1112) debuted 6 per cent and 5 per cent below IPO prices respectively. Datang closed at HK$2.19, down HK$0.14 or 6 per cent as compared to the IPO price of HK$2.33. (Hong Kong Economic Journal P.5)
Gome (493 HK) approved Zou Xiao Chun and Huang Yan Hong, two representatives appointed by its large shareholder Huang Guangyu, to join the board as executive director and non-executive director respectively. (SingTao Daily B3)
Fishery Group Limited, an indirect non-wholly-owned subsidiary of Pacific Andes (1174 HK), a Singapore listed company, plans to seek a dual primary listing in Hong Kong. It proposes a global placing of 175 million new shares. (Hong Kong Economic Journal P.4)
Mainland media said Ping An Bank’s (2318 HK) plan to merge bank unit with Shenzhen Development Bank was declined. Ping An denied yesterday and said the plan would proceed as planned. (SingTao Daily B4)
Standard Poor announced its report yesterday, raising the credit rating of Sun Hung Kai Properties (16 HK) from A/Positive to A+/Stable. It expects the rental income of SHK in the coming two years to grow over 10 per cent yoy. (Hong Kong Economic Times A8)
Viva’s (8032 HK) proposed acquisition of 30.9 per cent shares of Li Ning (2331) from its largest shareholder Li Ning was ruled by the Listing Committee as a reverse takeover. Viva decides to make an appeal. (Hong Kong Economic Times A8)
Culturecom Holdings (343 HK) proposes to raise around HK$115 million-140 million by way of a rights issue of around 345 million- 417 million shares at HK$0.35 each, a discount of about 41.7 per cent to last Fri’s closing price of HK$0.6 a share, on the basis of 1 rights share for every 2 new shares.
(Hong Kong Economic Journal P3)
Leoch International Technology (842 HK) plans to set up a JV company with Shenhua Electric Vehicles to manufacture and sell of motive power batteries and related products. It will contribute 20 million yuan in cash, 84.04 per cent interest in the JV company. (SingTao Daily B16)
Minmetals Resources’ (1208 HK) ultimate controlling shareholder China Minmetals’ shareholding in the company will go down from 58.05 per cent to 56.6 per cent because of an internal restructuring. (SingTao Daily B16)
Shanghai Jin Jiang International Hotels (2006 HK) enters into a JV agreement and brandname licensing agreement with Shanghai Tower Development. Interstate (China) will be hired to provide services relating to the daily operation and management of Shanghai Tower
Hotel. (Hong Kong Economic Journal P7)
Ping An Life Insurance becomes Sino Oil and Gas’s (702 HK) strategic shareholder. Sino Oil and Gas signed a placing agreement after closing last Fri to place at HK$0.45 a share 437 million new shares, about 5.02 per cent of the existing issued share capital and about 4.78 per cent of the issued share capital as enlarged. (Hong Kong Economic Journal P3)
Water Oasis Group (1161 HK) posted profit attributable to owners of around HK$59 million, down almost 27 per cent for the year ended 30th Sep. EPS was 7.9 HK cents. A final dividend of 4 HK cents per share was recommended. (SingTao Daily B16)
Hongqiao, of which Weiqiao Textile’s (2698 HK) major shareholder Zhang Shi Ping family is a controlling shareholder, has sought a listing hearing since late Nov. Market sources say some supplementary information is still required. (Hong Kong Economic Times A3)
Zhongtian International (2379 HK) proposes to raise around HK$54.2 million by way of a rights issue at HK$0.03 per share on the basis of 10 rights shares for every 1 existing share. (SingTao Daily B17)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
