Monday, January 17, 2011

Hong Kong Stock Market Wrap January 14th, 2011

361 Degrees (1361 HK) announces the revenue of its 25,38 shops which have operated for over 2-y. Sales amount in 4Q 2010 recorded 15 per cent increase compared to 16.2 per cent growth in 3Q. (Hong Kong Economic Times A10)
Chinese Estates (127 HK) announces the acquisition of entire issued share capital in River Court at the consideration of £ 37.79 million (approximately HK$465 million). (Hong Kong Economic Journal 5)

Emperor International (163 HK) has bought the shop in which Rado Watch is currently located, i.e. Ground Floor, No. 76 Perciavl Street, Causeway Bay, at HK$380 million. The price per sq. ft. was HK$633 thousand, hitting a new record. (Hong Kong Economic Journal 2)

Evergrande Real Estate (3333 HK) announces the issuance of 9.25 billion yuan (approximately HK$10.8 billion) US$ settled senior notes due in four and six years, with interest rates of 7.5 per cent and 9.25 per cent respectively. (Hong Kong Economic Journal 5)

Fong’s (641 HK) suspended the trading of its shares this Monday. Its major shareholder Fong Sou Lam sells 37.7 per cent share capital in Fong’s to China Hengtian, a PRC state-owned company, for HK$1.039 billion. (Hong Kong Economic Journal 2)

Nam Hing (986 HK) announces the acquisition of entire share capital, other than 14.64 per cent already held by Ploly Strategic, in Suncorp Technologies with Ploly Strategic at HK$0.1 per share. (Sing Tao Daily B3)

Zijin Mining (2899 HK) issued positive profit alert yesterday, saying the good results were mainly attributable to the increase in the sales price of the main products and the slight increase in production volume of copper and zinc products of the company last year. The estimated net profit was 4.6-5 billion yuan, up 30-40 per cent over the previous year. (Hong Kong Economic Journal 2)

Best Miracle International (8272 HK) plans to use HK$35.15 million to subscribe and exercise conversion rights attached to the CBs of Cheong Tat in order to hold 85 per cent interest in Cheong Tat and then provide an amount of funds to the latter to acquire 60 per cent equity interest in Wugu Farming. (SingTao Daily B13)

China Aerospace International (31 HK) plans to seek a general mandate from its shareholders in respect of the entering into all contracts, including but not limited to design, supplies of construction materials and constructions in respect of the provisionally named Shenzhen Aerospace Science & Technology Plaza during construction period. The contracts will be entered into with third party contractors by public tender or invitation. (SingTao Daily B13)

China South City Holdings (1668 HK) announces an issuance of US$250 million 13.5 per cent senior notes due 2016. The company expects the net proceeds to be around HK$1.835 billion. (Hong Kong Economic Journal P8)

China Star Entertainment (326 HK) has agreed to place up to 578 million shares to 6 placees at HK$0.07 each to raise HK$39.93 million. (SingTao Daily B13)

China Timber Resources (269 HK) has agreed to place 1.8 billion new shares to independent investors at HK$0.3 each to raise around HK$534 million. It has also agreed to issue 7 billion new shares at HK$0.4 each to Li Ka Shing Foundation, China Life Trustees, Lunar International and CEF Holdings to raise around HK$2.8 billion. (Hong Kong Economic Journal P6)

Meike International Holdings’ (953 HK) chairman and substantial shareholder Ding Siqiang acquired 994,000 shares of the company last Fri, taking his shareholding in the company to 47.15 per cent.
(SingTao Daily B13)

Public Financial Holdings (626 HK) posted net profit of 450 million for the year ended 31 Dec 2010, surging 63.6 per cent yoy. EPS amounted to HK$0.41. No final divided will be paid. (SingTao Daily B13)

Qunxing Paper Holdings (3868 HK) announces an issue of unlisted warrants at HK$0.05 per warrant to raise around HK$10.17 million. The warrants entitle the subscriber to subscribe for 206 million warrant shares at HK$2.95 per warrant share. (SingTao Daily B13)

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