Monday, May 9, 2011

Hong Kong Stock Market Wrap May 6th, 2011

China Resources Enterprise (291 HK) has entered into term loan facility agreements with five banks respectively in the aggregate amount of HK$2.7 billion. Four out of these five loan facility agreements have a term of five years. The remaining one is for a term of 18 months. (Sing Tao Daily B4)

Global Bio-Chem Technology Group (809 HK) announced to issue RMB450 million, 7 percent guaranteed bonds due 2014. The estimated net proceeds from this issuance will amount to RMB440 million. (Hong Kong Economic Journal P6)

Greentown China’s (3900 HK) contract sales amounted to HK$13.2 billion for the first four months in 2011 and the sales in April reached HK$1.9 billion. (Hong Kong Economic Times A10)

Poly (Hong Kong) Investments (119 HK) announced that the company’s sales reached HK$3.2 billion for the first four months in 2011. The sales in April were almost HK$1.1 billion. (Hong Kong Economic Times A10)

Shimao Property (813 HK) announced that the company’s total contract sales amounted to RMB8,542 million for the first four months in 2011, with a sales area of 682,000 square meters, or up 6.7 percent and down 7.5 percent year-on-year respectively. (Hong Kong Economic Times A10)

Tech Pro Technology Development (3823 HK) and the subscriber entered into the subscription agreement in respect of the issue of convertible notes in the principal amount of RMB84 million. The proceeds are expected to reach HK$98 million through this issuance. (Hong Kong Economic Journal P6)

ZTE (763 HK) and Huawei, China’s big two telecom companies, embarked on two-way patent suits. Both companies did not signal any concession in the matter. ZTE has filed a lawsuit against Huawei in China for alleged LTE patent infringement. This suit came after Huawei, filed lawsuits against ZTE in Germany, France and Hungary for patent and trademark infringement. (Hong Kong Economic Journal P6)

IPO: Glencore will kick off its IPO on 13 May, Friday. Rumours spread that its maximum offer price per board lot of 100 shares amounts to around HK$7517. (SingTao Daily B18)

21 Holdings (1003 HK) proposes a consolidation of every 10 issued existing shares into 1 issued consolidated share and a change in the board lot size for trading in its shares from 10,000 existing shares to 20,000 adjusted shares. (SingTao Daily B16)

China Life Insurance Company (2628 HK) will acquire from Ningbo Jinghe Property Development Sanbao Century Plaza in Ningbo at a total purchase price of RMB920,461,815. (Hong Kong Economic Times A10)

Ping An Insurance (Group) (2318 HK) announces that Shenzhen Development Bank has received a notice from China Securities Regulatory Commission. The Merger & Acquisition Committee of CSRC would soon review its major asset restructuring, that is the major asset restructuring and connected transaction of the bank by way of non-public issuance of shares to Ping An Insurance (Group) by it as the issuer for its acquisition of assets. (Hong Kong Economic Journal P9)

Shenzhen International Holdings (152 HK) has entered into an acquisition agreement with Shenzhen Huirun Investment to acquire the 24% equity interest in Shenzhen Airlines from the latter for a consideration of RMB788,632,500. Its equity interest in Shenzhen Airlines will increase from 25% to 49% after the deal. (Hong Kong Economic Times A10)

Sino-Ocean Land Holdings (3377 HK) will issue US$400 million perpetual subordinated capital securities callable 2016. The estimated net proceeds of the issue amount to some US$388 million. (Hong Kong Economic Times A10)

Winsor Properties (1036 HK) has entered into a share purchase agreement with sellers including Morgan Stanley Real Estate Investors IV International and a supplemental deed with Wing Tai Properties. It has agreed to purchase the sellers’ entire interest in Dragon Eye for a consideration of HK$229,096,628. (Hong Kong Economic Journal P10)

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