Yahoo Inc., SoftBank Corp. and Alibaba Group reached an agreement over the transfer of the online-payments company Alipay. The agreement announced preserves the relationship between Alipay and Alibaba's e-commerce unit Taobao, provides Alibaba (1688 HK) with licensing revenue from Alipay, and guarantees between US$2 billion and US$6 billion in proceeds to Alibaba from any Alipay initial public offering or sale. (SingTao Daily B3)
China Resources Enterprise (291 HK) plans to acquire the entire registered share capital in Jiangxi Hongkelong Department Store at a total consideration of RMB3.69 billion. The core businesses of the company are, namely retail, beer, beverage and food processing and distribution. The company would like to increase its market shares by expanding more acquisitions. (Hong Kong Economic Journal P5)
Bright New Investments Limited, a wholly owned subsidiary of Glorious Property Holdings Limited (845 HK), agreed to buy entire interests in Shanghai Bay projects from S.I. Properties Holdings Limited at a consideration of RMB2 billion. (Hong Kong Economic Times A11)
Great Wall Motor (2333 HK) plans to issue at most 304 million A shares for proceeds of around RMB3.17 billion for expansion. The company has submitted an application to proceed with the proposed A share issue to China Securities Regulatory Commission for approval. (Hong Kong Economic Journal P5)
Tom Group (2383 HK) teams up with Glu Mobile Inc, a smart mobile platform community game developer, to develop an intelligent terminal gaming community platform in Mainland China. (Hong Kong Economic Journal P5)
China Shipping Nauticgreen (2138 HK) plans to kick off roadshow today, start its IPO on 5 August and list on the bourse on 19 August. (SingTao Daily B16)
Hong Long (1383 HK) announces that Ouyang Junxin has tendered his resignation from office as its executive director due to his intention to achieve his other personal goal, with effect from 31 July. (SingTao Daily B16)
Ko Yo Chemical (827 HK) plans to place to not less than 6 placees up to 300,000,000 new shares at a price of HK$0.172 each with bonus warrants on the basis of 1 bonus warrant to 1 placing share. (Hong Kong Economic Times A10)
Seamless Green China (8150 HK) announces that Liu Chun Ning Wilfred has resigned as its independent non-executive director and member of the audit committee and remuneration committee respectively with effect from 29 July. (SingTao Daily B16)
Sinopoly Battery (729 HK) places a maximum of 700,000,000 shares at a price of HK$0.52 per share. The maximum gross proceeds will be about HK$364 million. (Hong Kong Economic Journal 21)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
