Monday, January 3, 2011

Hong Kong Stock Market Wrap December 22nd, 2010

Beijing Enterprises Water (371 HK) proposes to raise approximately HK$3.388 billion by issuing offer shares at HK$1.485 per share on the basis of one offer share for every two existing shares. (Hong Kong Economic Journal P.2)

Zoomlion Heavy (1157 HK) and Hengxin Technology (1085), both will be listed today, rose 14.7 per cent and 3.11 per cent respectively in the gray market, representing a gain of HK$44 and HK$140 respectively for each board lot of shares. (Hong Kong Economic Times A9)

361 Degrees International (361 HK) announces that at an order placing fair for next year’s autumn it recorded a 23pc yoy growth in total order value. (SingTao Daily B3)

Dragon Crown (935 HK) announced to cancel its listing plan yesterday. It at first planned to list on the bourse on 29 Dec but its offering received weak response. (SingTao Daily B3)

Dynamic Energy (578 HK) announced yesterday that it would determine the disposal of Clear Interest as Stock Exchange concerned if the company would have sufficient operation after the disposal. Suspended trading of shares for over three months, Dynamic Energy resumed trading yesterday and it shares rose 4.55 per cent, closing at HK$0.345. (Hong Kong Economic Journal P.6)

EPI (Holdings) (689 HK) has announced a placing of up to 920 million shares at HK$0.0675 per share via Emperor Securities (0717). (SingTao Daily B3)

Hanny Holdings (275 HK) major shareholder Chan Kwok Keung sold his 20.32 per cent interest in the company to chairman Yap, Allan yesterday. Chan is no longer a shareholder of the company. (SingTao Daily B3)

Hengxin Technology’s (1085 HK) gray market price was 3 per cent higher than its IPO price yesterday. Not taking charges into account, holing a lot generated a paper gain of HK$140. (SingTao Daily B3)

HKEX (388 HK) announces the appointment of Eric Landheer as Senior Vice President and Head of Issuer Marketing in the Market Development Division, with effect from 1 Feb 2011. (Hong Kong Economic Journal P.6)

IPO: Market sources say that KEE Holdings Company plans to open its retail book on 31 Dec and list on 12 Jan. (SingTao Daily B3)

Shui On Construction (983 HK) and Materials has agreed to sell its 10 per cent interest in Lead Wealthy at 76.3 million yuan. No gain or loss is expected to arise from the disposal. (SingTao Daily B3)

Trinity (891 HK) announces to acquire all business and trademark interests of Cerruti from Matlin Patterson, a US investment fund, for a total cash consideration of not exceeding Euro 52.58 million (HK$539 million), aiming to reinforce its presence in menswear sales in the Greater China Region. (Hong Kong Economic Journal P.6)

Viva China (8032 HK) announced yesterday, due to the recent fluctuations in share price, the board of directors had decided to repurchase its shares from the market to stabilize its share price. The company has already repurchased a total of 154 million shares for HK$49.16 million in the past few days. (Hong Kong Economic Journal P.6)

V.S. International (1002 HK) plans to raise HK$34.67 million by issuing rights shares at HK$0.12 per rights share on the basis of 1 rights share for every 3 existing shares. (SingTao Daily B3)

Zhongsheng Group (881 HK) announces that it will acquire 55% equity interest in New Wing Enterprises, which is engaged in the selling of automobiles and service related business in mainland China, at a total consideration of 260 million yuan. (Hong Kong Economic Journal P.6)

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