Tuesday, April 19, 2011

Hong Kong Stock Market Wrap April 18th, 2011

AIA Group (1299 HK) saw its value of new business go up 21% to US$182 million. Annualised new premium sales went up 17% to US$512 million. (Hong Kong Economic Times A10)

Ajisen (China)’s (538 HK) shareholder Poon Wai has agreed to place 63,551,900 shares at a price of HK$15.30 each. (Hong Kong Economic Times A4)

Anhui Conch Cement (914 HK) announced that the company’s net profit for the first quarter in 2011 surged nearly 1.8x to RMB2.216 billion with basic earnings per share of RMB0.63. (Sing Tao Daily B2)

Bingo Group (8220 HK) has entered into establishment of a joint venture with CineChina and Bingo Group plans to launch a number of 548.9 milllion share placement. (Sing Tao Daily B4)

China State Construction International Holdings Limited (3311 HK) announced that the company’s unaudited operating profit increased by around 32 percent year-on-year to HK$353 million for the quarter ended March this year. (Sing Tao Daily B2)

Chu Kong Petroleum (1938 HK) and Natural Gas Steel Pipe has successfully won two bids for supplying LSAW steel pipes with contract value of RMB923.6 million. (Sing Tao Daily B2)

CVM Minerals Limited (705 HK) has entered into memorandum of understanding with PKNP in relation to the establishment of a joint venture in Malaysia for the purpose of exploration and mining of rare earths. (Sing Tao Daily B2)

GZI Transport Limited (1052 HK) announced that the toll revenue for Guangzhou Northern Second Ring Expressway amounted to RMB60.78 million in March, or up 4.4 percent year-on-year. The average daily traffic volume increased to 100,000 vehicles in March. (Sing Tao Daily B2)

Mingfa Group (International) Company (846 HK) proposes to issue convertible bonds due 2016 with an aggregate principal amount of HK$1,560,000,000, bearing interest at a rate of 5.25 per annum payable semi-annually in arrear. The initial conversion price is HK$3.168 per share. HSBC and Morgan Stanley are the joint lead managers. (Hong Kong Economic Journal P4)

Minmetals Resources Ltd (1208 HK) has launched an HK$6.72 billion share placement yesterday. The shares would be priced between HK$5.2 and HK$5.6 each. The shares were suspended from trading yesterday ahead of the placement. (Sing Tao Daily B2)

Pacific Basin Shipping (2343 HK) announces that its handysize and handymax freight rates have increased 28% and 30% since early February on healthy South American grain exports and ongoing strong growth in minor bulk trades, thereby recovering the January losses. As at 15 April, the handysize and handymax rates had recovered to US$11,300 and US$14,000 per day net – approximately where they stood at the start of the year. (Hong Kong Economic Times A12)

Semiconductor Manufacturing International (981 HK) has agreed to allot and issue to China Investment Corporation 360,589,053 convertible preferred shares at HK$5.39 apiece and it will also issue 72,117,810 warrants to subscribe, in aggregate, up to 72,117,810 warrant preferred shares at an exercise price of HK$5.39 per warrant. The aggregate consideration for the securities is US$250 million. (Hong Kong Economic Times A12)

SIM Technology Group (2000 HK) announces an issue of 137,500,000 units of TDR, representing in aggregate 275,000,000 shares, of which 137,500,000 new shares will be allotted and issued by SIM Technology Group, and 137,500,000 shares will be transferred by its shareholder Info Dynasty. (Hong Kong Economic Times A12)

TPV Technology (903 HK) has entered into formation of a joint venture with Philips. TPV Technology will acquire 70 percent shares of the JV Company and own businesses of Philips TV manufacturing in some countries in Europe and South America. Philips also grants TPV Technology for an exclusive use of trademark license for the JV Company. (Sing Tao Daily B4)

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