China Datang (1798 HK) plans to change the use of proceeds from its public offering. The HK$1.5 billion, representing 30 percent of the HK$5 billion raised from proceeds, will be used for investment in Datang Renewable (H.K.) Co., Limited, for its development of domestic and overseas renewable power projects. (Sing Tao Daily B14)
China Everbright International (257 HK) estimates that the company’s capital expenditure for 2011 will amount to around RMB2 billion (HK$2.4 billion) due to the new 15 projects, up from 8 projects last year, put into operation this year. (Sing Tao Daily B13)
Ms. Wan Ho Yan Letty, a substantial shareholder of China Investment Fund (612 HK), disposed of its entire substantial shareholding interest in the company. The disposed shares take up 29.99 percent of the issued share capital of the company. (Sing Tao Daily B14)
China Life Insurance (Overseas) (2628 HK) plans to cut the price of its balanced fund by over 10 percent and introduce special voluntary contributions—SVC to attract more customers. (Hong Kong Economic Times A14)
Evergrande Real Estate (3333 HK) won a parcel of land in Zhejiang Province, China at a consideration of RMB260 million, marking the first step into Zhejiang Province for the company. (Sing Tao Daily B14)
Goldlion Holdings (533 HK) plans to introduce gold standard label stores in Mainland China. The company decides to explore the high-end market by choosing some stores with good performance, promoting their decoration and display styles and putting high-end products on shelves. (Hong Kong Economic Journal P10)
Mongolian Mining (975 HK) expects to see a selling price increase of around 40 percent-50 percent for its coal business as compared with that of raw coal prices. After the company’s new asphalt roads put into operation within this year, transportation costs will decrease. The company’s net profit is expected to increase by around 30 percent. (Sing Tao Daily B13)
Sinopec Kantons (934 HK) has agreed to purchase 50 percent equity interest in Zhanjiang Port Petrochemical Jetty Co. at the consideration of approximately RMB332 million (around HK$400 million). (Sing Tao Daily B13)
China Shenhua Energy Company (1088 HK) announces that a general mandate was granted to the board of directors to, by reference to market conditions and in accordance with needs of the company, to repurchase A shares and H shares not exceeding10% of the number of A shares and H shares in issue. (Hong Kong Economic Journal 19)
China Singyes Solar Technologies Holdings (750 HK) will place 35,000,000 existing shares at a price of HK$6.8 per share to not less than six placees who are professional, and institutional and/or other investors. (Hong Kong Economic Times A10)
Lonking Holdings (3339 HK) will issue US$350 million 8.50% senior notes due 2016. Credit Suisse is the sole global coordinator in respect of the offer and sale of the notes. (Hong Kong Economic Times A10)
Pacific Plywood Holdings (767 HK) has acquired Simsen International shares, which represents around 7.70% of the total issued share capital of Simsen International, at HK$0.20 each with a total consideration of HK$20,000,000. (Hong Kong Economic Journal 19)
Pokfulam Development Company (225 HK) saw net profit climb to HK$292 million for the six months ended 31 March 2011. (Hong Kong Economic Journal 19)
Seamless Green China (Holdings) (8150 HK) announces that a resolution regarding the re-election of Zhao Wen Tao as an executive director was not passed at the AGM. Accordingly, Zhao has retired as an executive director. (Hong Kong Economic Journal 19)
Li Tzar Kai Richard reportedly entered into an agreement on Monday to sell 266,600 shares in the Bank of East Asia (23 HK). (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
