Monday, April 18, 2011

Hong Kong Stock Market Wrap April 15th, 2011

IPO: Great Group (China) plans to kick off its public offering with an offer price between HK$1.92 and HK$2.78. The IPO entry fee is around HK$5560. (Sing Tao Daily B3)

Arnhold (102 HK) was notified by the offeror that it has distributed 192 million shares held by it to its ultimate beneficial owners to restore the minimum public float. (Sing Tao Daily B4)

Automated Systems Holdings (771 HK) notes that the company’s technological and international experience will become the major characteristic for its business exploration in Mainland China. The company’s i-Sprint has won contracts with a number of Mainland banks that listed in Hong Kong. (Hong Kong Economic Journal P4)

Chiho-Tiande Group (976 HK) plans to place 60 million shares at the placing price of HK$6.6 per share. (Sing Tao Daily B4)

China Lumena New Materials (67 HK) plans to launch new products for the company’s Glauber's salt and new materials businesses this year. These two sectors are expected to see a gross profit margin of over 60 percent respectively. (Hong Kong Economic Times A10)

Mastermind Capital Limited (905 HK) announced that certain individuals have subscribed for 144 million shares of the company with an exercise price of HK$0.27 per share. (Sing Tao Daily B4)

Mingfa Group (846 HK) acquired three pieces of land in Huizhou. The total area was 150,000 square meters. (Sing Tao Daily B4)

New Times Energy Corporation (166 HK) has entered into the Escrow Agreement on 25 March 2011 in relation to the termination of acquisition of gold business of Hongwen Gold. The Vendor shall deposit the repayment amount of HK$600 million with the accrued interest, into the designated bank account of the Escrow Agent within 60 days upon entering into of the agreement. (Sing Tao Daily B4)

Brilliance China Automotive’s (1114 HK) wholly-owned subsidiary SXID has agreed to purchase from Dalian Huaxia 9.9% of the equity interest in Shenyang Automotive for a consideration of RMB300,000,000. Shenyang Automotive, after the deal, will be directly and indirectly owned as to 60.9% by Brilliance China Automotive. (SingTao Daily B4)

Guoco Group’s (53 HK) subsidiary GuocoLand Limited has successfully completed the acquisition of a loan of RMB2 billion with interest from Agricultural Bank of China (1288), with all rights attaching thereto including enforcement rights against the borrower and guarantors.
(Hong Kong Economic Times A8)

Hung Hing Printing Group (450 HK) announces that an agreement has been entered into between Asia Packaging and Rengo Co., a paper and packaging materials manufacturer listed on the Tokyo Stock Exchange (Stock Code: 3941). Asia Packaging has agreed to sell 271,452,000 shares held by it to Rengo, roughly 29.9% in the issued share capital of Hung Hing Printing Group, for a total consideration of HK$1,425,123,000 in cash. (Hong Kong Economic Journal P2)

Shougang Concord Grand (Group) (730 HK) has entered into a preliminary agreement to sell its entire ownership interests in Unit no. 2907 on the 29th Floor of West Tower, Shun Tak Centre, Nos. 168 - 200 Connaught Road Central at a cash consideration of HK$44,800,000. (SingTao Daily B3)

The Stock Exchange has confirmed that Tian An China Investments (28 HK) may proceed with its proposed spin-off. Allied Cement has submitted a listing application form (Form A1) to apply for the listing of, and permission to deal in, shares on the main board. (Hong Kong Economic Times A8)

Zhongsheng Group (881 HK) Holdings plans to issue RMB1,250,000,000 4.75% senior notes due 2014. It intends to use the net proceeds mainly for the expansion of its distribution network of 4S dealerships. Approval in-principle has been received for the listing of the notes on the SGX-ST. (SingTao Daily B4)

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