China Mobile’s 3G (941 HK) service subscribers increased by 2.23 million in April, compared with 2.45 million of increase in March 2011. (Hong Kong Economic Journal P4)
Li Xiaolin, CEO of China Power International Development Ltd (2380 HK) , noted yesterday that electricity shortage has seriously affected enterprises in Mainland China, especially in cities in the East and Central China and suggested that China should raise power prices at the point to cope with rising coal costs. (Sing Tao Daily B14)
China Telecom (728 HK) plans to issue RMB30 billion corporate bonds in Mainland China and considers issuing offshore RMB60 billion bonds in Hong Kong. (Sing Tao Daily B14)
Fosun International (656 HK) plans more overseas M&A projects focusing on consumer enterprises in mature markets in Europe and the U.S. and resources enterprises in Australia, Africa, South America and Canada. (Sing Tao Daily B13)
A large explosion at the Hongfujin Precision Electronics plant in Chengdu, the capital of Sichuan province, killed two people and injured 16 others. The plant, owned by Foxconn International Holdings Ltd (2038 HK), is said to produce iPad2. (Hong Kong Economic Times A10)
Huadian Power International (1071 HK) plans to issue at most 600 million new A shares at a subscription price of not less than RMB3.69 per A share. The expected proceeds from this issuance will not exceed RMB2.1 billion. (Hong Kong Economic Times A12)
Sinotrans (0598 HK) has agreed to subscribe for 165 million new ordinary shares of InterBulk at a total subscription price of £18.15 million (approximately HK$228 million) by a way of placing. (Hong Kong Economic Times A12)
21 Holdings (1003 HK) announces that a former director Kwok Chin Wing has issued legal proceedings against the company, claiming a sum, and judgment was awarded in favour of the plaintiff. It has filed an appeal against the judgment. (SingTao Daily B13)
Agricultural Bank of China (1288 HK) has received approvals from the China Banking Regulatory Commission and the People’s Bank of China to publicly issue subordinated bonds of not exceeding RMB50 billion in the national inter-bank bond market. (Hong Kong Economic Journal 19)
IPO: Beijing Jingneng Clean Energy plans to float its shares on the bourse in early July. (Hong Kong Economic Journal 6)
China Financial International Investments (721 HK) has agreed to allot and issue 60,000,000 shares at a subscription price of HK$0.5 apiece to Zhang Huaqiao. (Hong Kong Economic Journal 19)
China Molybdenum (3993 HK) posted Q1 net profit of RMB267m, down 74pc yoy. (Hong Kong Economic Journal 19)
Maoye International (848 HK) has agreed to place up to 273,000,000 shares at a placing price of around HK$3.81 each. The net proceeds are estimated to be about HK$1,019.5 million. It intends to use such proceeds for store network expansion. (Hong Kong Economic Times A10)
MGM China (2282 HK) kicks off its IPO today. The maximum offer price a board lot of 400 shares amounts to roughly 6197.9. (SingTao Daily B12)
IPO: Shunfeng Photovoltaic plans to kick start its IPO on 31 May and list on the bourse on 13 June. (Hong Kong Economic Journal 6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
