Monday, April 4, 2011

Hong Kong Stock Market Wrap April 1st, 2011

IPO: NT Pharma sets it offer price between HK$4.54 and HK$6 and plans to issue 357 million shares for its IPO in Hong Kong. The company will kick off the roadshow today. (Hong Kong Economic Journal P4)

Beijing Capital Land (2868 HK) plans to spin off its Outlet business to be listed in future. No timetable is available. (Hong Kong Economic Times A10)

Due to the limited potential increase of coal prices, China Bluechemical Ltd. (3983 HK) plans to enter into more coal mine acquisitions as a fertilizer enterprise of self-producing coals as raw materials. (Sing Tao Daily B15)

China Huiyuan Juice Group (1886 HK) expects that the sales of tea beverage business of the company will account for 10 percent over the next three to five years. Along with the cooperation with other brands, the company’s capacity utilization rate is expected to see an increase to 2/3 this year. (Hong Kong Economic Times A10)

Country Garden Holdings Company (2007 HK) announced that the turnovers of the company for Q1 this year amounted to around RMB9.3 billion. The contract sales floor area was about 1.44 million square metres. (Hong Kong Economic Times A10)

Henderson Land Development (12 HK) notes that the company’s real estate business in Mainland China has entered into a “growing period” with a sale and a pre-sale target amounting to RMB10 billion. The company also plans to explore commercial building businesses in the second-tier and third-tier cities. (Sing Tao Daily B15)

Kingboard Chemical Holdings (148 HK), with Hallgain Management Limited, has entered into a loan agreement of HK$4.8 billion with a term of five years. (Sing Tao Daily B15)

Metallurgical Corporation of China (1618 HK) proposes to issue US dollar-denominated bonds in Hong Kong this year for the development of real estate business and engineering contracts. (Sing Tao Daily B15)

China Forestry (930 HK) announces that Haitong International Capital (formerly known as Taifook Capital) resigns as its compliance adviser with effect from 1 April. (Hong Kong Economic Times A12)

Longfor Properties (960 HK) announces an issue of US$750,000,000 9.5% senior notes due 2016. The estimated net proceeds amounts to around US$735,000,000, and it intends to use the net proceeds to finance existing and new property projects and for general corporate purposes. (Hong Kong Economic Journal P7)

RCG (802 HK) announces that Raymond Chu Wai Man, non-executive director and shareholder , together with Full Future Group, company wholly-owned by him, has on 31 March sold off-market 13,852,211 ordinary shares at HK$2.05 each. (Hong Kong Economic Times A12)

Shimao Property (813 HK) announces that all outstanding floating rate notes due 2011 will be redeemed in full on 3 May 2011 at a redemption price equal to 100% of the principal amount thereof, plus the applicable floating rate premium as of, and accrued and unpaid interest to (but not including) the redemption date. The principal amount of the floating rate notes outstanding is US$250,000,000. It will satisfy the payment of the outstanding principal amount using proceeds from the offering of the 2011 notes. (Hong Kong Economic Journal P7)

SOHO China Limited (410 HK) acquires Caojiadu Land, JingAn District, Shanghai, with total planned gross floor area of about 81,000 m2, at RMB1,534,080,000 for commercial, residential and office uses. (Hong Kong Economic Journal P7)

TCL Communication Technology (2618 HK) plans to acquire the fixed line telephone business of TCL Communication Equipment (Huizhou) for RMB120,000,000. (SingTao Daily B12)

Yuexiu Property (123 HK) has entered into agreements with 2 banks for unsecured term loan facilities. The first loan facility was a facility of up to HK$500 million; the second, up to HK$300 million, both for a term of 3 years. (Hong Kong Economic Journal P7)

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