Monday, January 3, 2011

Hong Kong Stock Market Wrap December 16th, 2010

Two new shares, Biostime International (1112 HK) and China Datang Corporation Renewable Power (1798) start trading shares today. Share price of the former slightly went up 0.73 per cent from its offer price to close at HK$11.08 in the gray market, while the latter dipped 1.28 per cent from the offer price. (SingTao Daily B12)

BYD (1211 HK) announces by email that it has entered into a contract with Housing Authority of the City of Los Angeles to supply electric cars to the latter, with no data of volume revealed. (SingTao Daily B4)

Market sources say Changsha Zoomlion’s (1157 HK) offering was over 7x oversubscribed. It is said that its international placing was around 3x oversubscribed. The company plans to list on 23 Dec. (Hong Kong Economic Times A10)

Cheung Kong (Holdings) (1 HK) chairman Li Ka Shing bought 903000 shares during 10-14 Dec at HK$114.244-115.844. His shareholding in the company rose to 42.54 per cent.
(Hong Kong Economic Journal P12)

China Datang Corporation (1798 HK) Renewable Power closed at HK$2.3, 1.28 per cent lower than its offer price. Holding a lot of 1000 shares generated a paper loss of HK$30. (Hong Kong Economic Times A10)

HK stock market dug deeper yesterday, leading Chongqing Rural Commercial Bank (3618 HK) shares to be 1 per cent lower than the offer price. Investors suffered from a loss of HK$50 per board lot of 1,000 shares. (SingTao Daily B4)

CLP Holdings (2 HK) has won a bid to acquire energy assets including EnergyAustralia at a total consideration of AUD2.035 billion. BoA Merrill Lynch raises 2011 and 2012 EPS forecast for the company by 13pc and 17pc respectively, maintaining Underperform rating. (Hong Kong Economic Times A10)

It is said that Dragon Crown Group’s (935 HK) international placing was 2-3x oversubscribed. It will close its retail book next Mon and list on 29 Dec. (Hong Kong Economic Journal P7)

Galaxy Entertainment Group (27 HK) announces the closing of a 3-yr fixed rate senior unsecured bond issuance in an aggregate principal amount of 1.38 billion yuan. The issue was over 13x oversubscribed. The bonds list on the HKEx (0388) today, with a fixed rate of 4.625 per cent p.a. (Hong Kong Economic Journal P10)

Telecom operator 3, controlled by Hutchison Whampoa (13 HK), is seeking to buy frequencies in the Swedish 2.6 Gigahertz band from Intel Corp., as it plans to launch Long Term Evolution fourth-generation networks, 3 Scandinavia chief executive Peder Ramel told foreign media. (SingTao Daily B3)

KH Investment (8172 HK) announces a placing of up to 84 million shares at HK$0.255 each, representing a discount of about 18 per cent over the share’s closing price yesterday, to raise HK$21 million. (SingTao Daily B4)

SITC International (1308 HK) recorded shipping volume of 1.255 million TEU for the first 11 months this year, representing a yoy increase of 16 per cent. The average freight rate has increased 13 per cent to US$504.2. (SingTao Daily B4)

Rusal PLC (486 HK) announces its review of the outlook for the global aluminium industry in 2011. Global demand for aluminium is expected to increase by 8 per cent to 43.8 million tonnes. Aluminium price is forecasted to be between US$2,400-2,500 per tonne. (SingTao Daily B4)

Wheelock And Company (20 HK) has applied to the HKEx (0388) for listing US$2 billion medium term note programme and notes issued thereunder within 12 months. The listing of the programme is expected to become effective next Tue. (Hong Kong Economic Journal P10)

Wing Tai (369 HK) announces that it will form a joint venture with Nan Fung for the acquisition of a residential project located in Pudong New District, Shanghai City, China. Wing Tai and Nan Fung will share half of the total investment of 1.2 billion yaun respectively.
(SingTao Daily B4)

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