Tuesday, January 11, 2011

Hong Kong Stock Market Wrap January 10th, 2011

Henderson Land Development (12 HK) has entered into a term loan and revolving credit agreement with a syndicate of banks, relating to the provision of certain HK Dollar
3-yr term loan and revolving credit facilities of up to HK$10 billion. It provides a guarantee to the banks. The borrower is a wholly owned subsidiary. (Hong Kong Economic Journal P12)

KEE Holdings (2011 HK) will list on the bourse on Wed. It is said that its retail tranche and international placing was 160x and 3x oversubscribed respectively. (Hong Kong Economic Journal P4)

Newtree Group (1323 HK) will list on the bourse on Thu. Rumours spread that it will fix the IPO price at HK$1.95. (Hong Kong Economic Journal P4)

PetroChina (857 HK) announces that it is going to set up a joint venture with two subsidiaries of INEOS Group Holdings plc. The joint venture will be engaged in trading activities related to the crude oil refining operations located at the Grangemouth refinery in Scotland and the Lavéra refinery in France. (Sing Tao Daily B4)

Sa Sa International Holdings’ (178 HK) retail and wholesale business achieved a yoy rise in turnover of 16.8 per cent for the 3 months ended 31 Dec 2010. Retail and wholesale sales growth in HK and Macau lifted 17.5 per cent, with same store sales growth of 6.8 per cent. (Hong Kong Economic Journal P10)

Sunac (1918 HK) Dingsheng Zhidi, subsidiary of Sunac China Holdings, has acquired 2 pieces of land in Tianjin with total gross floor area of 250,000sqm at 887 million yuan. It shall pay a sum of the land transfer prices and auxiliary fees of 1.34 billion yuan. (Hong Kong Economic Journal P12)

Sumpo Food (1089 HK), which floats shares today, achieved good result in the gray market yesterday. Its shares closed at HK$0.76, 12 per cent higher than the offer price. (Sing Tao Daily B4)

Telefield International (1143 HK) plans to issue 100 million shares at between HK$1.01-1.35 each to raise 100 million-130 million. It plans to open its retail book on 14 Jan and list on 27 Jan. (Hong Kong Economic Times A10)

Retailer Trinity (891 HK) plans to place 100 million shares at between HK$7.5-7.65 each to raise 750 million-765 million. Shares closed at HK$7.95 yesterday. (Hong Kong Economic Journal P8)

Zhengzhou Gas (3928 HK) announces the change of residential estates gas pipeline construction fee collection model. Starting from Jan 7, the company will enter into a master gas pipeline construction contract directly with its customers and charge from them the entire costs related to the relevant construction works. (Sing Tao Daily B4)

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