IPO: Sources said that Chow Tai Fook, a Hong Kong jewellery retailer, has selected banks for its Hong Kong listing. The company will appoint three sponsors and seven underwriters, including Goldman Sachs, HSBC and JP Morgan. The company plans to raise between US$3 billion and US$4 billion from its initial public offering and is expected to go public in the fourth quarter 2011 or the first quarter 2012. (Hong Kong Economic Journal P4)
AGTech Holdings (8279 HK) proposes to acquire the entire issued share capital of Fortune Happy Investment and a shareholder’s loan at a consideration of RMB73,000,000. (SingTao Daily B2)
Brilliance China (1114 HK) announced that its JV with BMW saw its sales of BMW automobiles totalled 36,500 units during the first four months in 2011, representing an annual growth of 65 percent. (Hong Kong Economic Times A12)
Chevalier International Holdings Limited (CIHL) (25 HK) is considering disposal of all its equity interest in Chevalier Pacific Holdings Limited (0508). The two companies released a joint announcement yesterday concerning the matter. (Hong Kong Economic Times A12)
China Gogreen Assets Investment (397 HK) announces the manner at which a disposal of Apollo shares will be conducted as originally announced has been revised where the disposal will be conducted through open market transactions on the Stock Exchange; and/or by block trade(s) by way of placing through placing agent(s) appointed by it prior to the placement. (SingTao Daily B2)
Credit China Holdings (8207 HK) has been informed that Integrated Asset Management disposed a total of 30,000,000 shares at HK$1.65 on 20 May 2011 to Fidelity China Special. (SingTao Daily B2)
Goodbaby International (1086 HK) says that markets in Europe and the U.S. will boost the company’s profit growth. The company’s gross profit margin will suffer pressure from Renminbi appreciation, price increase in raw materials and labor costs. (Hong Kong Economic Journal P4)
Greenheart Group (94 HK) booked loss attributable to the equity holders of HK$13,578,000 for the three months ended 31 March 2011. (SingTao Daily B2)
Mumbai Branch of ICBC (1398 HK) has recently been granted a business licence from the Reserve Bank of India. Approval from the China Banking Regulatory Commission for establishment of Mumbai Branch of the bank has already been obtained. (SingTao Daily B2)
Chinese Estates Holdings Limited (0127) and Mr. Lau Luen Hung agreed to subscribe for 13.5 percent senior notes of Kaisa Group (1638 HK) due 2015 in the aggregate principal amount of US$300 million. (Hong Kong Economic Times A12)
Lee’s Pharmaceutical Holdings (950 HK) saw net profit climb 58% to reach the level of HK$16,894,000. (SingTao Daily B2)
Lonking Holdings’ capital (3339 HK) expenditures for the years ended December 31, 2008, 2009 and 2010 were RMB1,050 million, RMB846 million, and RMB483 million, respectively. (SingTao Daily B2)
Rich Public, a shareholder of Media China Corporation (419 HK), has planned to buy 202 million shares from IDG Capital at a consideration of HK$116 million. (Hong Kong Economic Times A12)
New World China Land (917 HK) obtained yesterday term loan facilities of up to an aggregate principal amount of HK$1,000,000,000 from a bank to finance its general working capital requirements. The facilities comprise a 5-year term loan facility of up to a principal amount of HK$500,000,000 and a 3-year term loan facility of up to a principal amount of HK$500,000,000. (SingTao Daily B2)
The controlling shareholders of the Hong Kong Parkview Group (207 HK) have received an indication of interest in possible acquisition of 73.5 percent equity interest in the company. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
