Tuesday, January 18, 2011

Hong Kong Stock Market Wrap January 17th, 2011

IPO: It is said that Prada will announce its HK listing plan on Sat and that it has appointed 4 investment banks to arrange for the listing, including Goldman Sachs. It is expected Prada may plan to raise 1.2 billion euro. (SingTao Daily B3)

Agile (3383 HK) announces that it has signed a facility agreement with Standard Chartered Bank pursuant to which a term loan facility in the amount of HK$1.55 billion has been granted to the company for 1 year. (Hong Kong Economic Times A15)

Aluminum Corporation of China (2600 HK) issued positive profit alert yesterday. Its unaudited annual results last year record a turnaround from a loss of 4.646 billion yuan in 2009. (Hong Kong Economic Times A10)

Angang Steel and Maanshan Iron (347 HK) issue positive profit alerts for the annual results ended 31 Dec 2010. Angang Steel expects a profit growth of 133.84-161.35 per cent and Maanshan Iron estimates a profit growth of more than 50 per cent yoy, both below market expectation. (Hong Kong Economic Times A10)

Baofeng Modern International’s (1121 HK) maximum offer price a lot of 2000 shares is HK$6020.08. Offer price is between HK$1.99-2.98. Market sources say its international placing was fully covered. (SingTao Daily B3)

Deloitte announces that REITs’ first RMB bond is expected debut on Hong Kong Stock Exchange. As of the end of November last year, the approximate 280 billion RMB deposits in Hong Kong accounted for less than 5 per sent of the share of foreign currency deposits. (Hong Kong Economic Journal P5)

Golden Meditech Holdings (801 HK) announces that new shares will be issued at an offer price of NT$11.20, equivalent to HK$3, per TDR, equivalent to around HK$1.5 per share. (SingTao Daily B3)

Jingwei Textile Machinery (350 HK) expects its 2010 results will return to the black and it will book a net profit in the range of around 220 million to 260 million yuan. (SingTao Daily B3)

Maanshan Iron & Steel (323 HK) estimates that its net profit for the year 2010 will increase by over 50 per cent. That means no less than 589 million yuan. The company’s net profit for the first 3Qs last year was over 1.044 billion yuan. (SingTao Daily B3)

Mingyuan Medicare (233 HK) has entered into a three-year distribution agreement with Shanghai Pharmaceuticals, whereby Shanghai Pharmaceuticals will distribute a total of no less than 650 thousand chips and testing kits of C-12 and HPV, representing 20 per cent of Mingyuan’s full-year sales in 2009. (Hong Kong Economic Times A15)

Ping An Insurance (Group) (2318 HK) announces that the accumulated written premiums of its subsidiaries Ping An Life, Ping An Property & Casualty, Ping An Health and Ping An Annuity last year totaled 226.56 billion yuan, up 31 per cent yoy. (SingTao Daily B3)

Tech Pro Technology Development (3823 HK) plans to buy a company principally engaged in LED street lamps and wind-solar new energy products business in the PRC at not more than HK$320 million. (SingTao Daily B3)

Related activities carried out by the ICON bring the new arrangement of old leases and new buildings to public attention. But this is not rare. As early as 2006, Henderson Land Development Company Limited (0012) presented old leases of Shining Heights, which also ignited a round of hot discussions. (Hong Kong Economic Journal P6)

Youyuan International (2268 HK) cooperates with a supplier to invest in a high-end wallpaper production line in Longhai city, Fujian Province. The production line will have an annual production capacity of approximately 35 thousand tons and is targeted to commence production in the second quarter of 2012. (Hong Kong Economic Times A15)

Vale S.A. (6210 HK) announces the final amount of the extraordinary dividend is around R$ 0.32005 per HDR, approximately HK$1.4765. (SingTao Daily B3)

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