BoCom (332 HK) announced that the financial departments of the two major shareholders as well as HSBC have pledged to fully participate in its rights issue. If A-share shareholder’s rights issue ratio achieves 70 per cent, HSBC’s stake holding of the bank will increase to 19.55 per cent after completion of the rights issue. (SingTao Daily B3)
China Overseas (688 HK) announced that its sales performance in May achieved the target of HK$3.45 billion, dropping 39 per cent year-on-year, involving 418 thousand square meters of floor area. (SingTao Daily B3)
China Resources (1109 HK) announced that the company entered into a facility agreement in relating to a $100 million term loan facility with a bank. It stipulated that China Resources Holdings should hold not less than 35 per cent in the issued share capital of the company. CRH owns approximately 63 per cent of the issued share capital of the Company for the time being. (SingTao Daily B2)
China Resources (836 HK) Power Executive Director Wang Xiao Bin expects coal production to reach 16 million tons by the end of this year and to next year the number to go up over 43 per cent year-on-year to 23 million tons. (Hong Kong Economic Times A12)
China SCE property (1966 HK) announced that it bid Beijing Hualong Building development project under Sinopec Group at a consideration of 126 million yuan last Thursday. (SingTao Daily B2)
Denway Motors (203 HK) and Guangzhou Automobile revise terms for privatisation of Denway Motors. Exchange ratio is raise to 0.474026 Guangzhou Automobile H Shares for every Denway share. Other terms stay the same. (Hong Kong Economic Times A12)
Evergrande Real Estate (3333 HK) announced that its contracted sales in May reaped 4.05 billion yuan, rising 33 per cent over the same period last year, involving 640 thousand square meters of sales area. (SingTao Daily B3)
Jutal Offshore Oil Services (3303 HK) 55 per cent owned JV company JVC sells a full revolving hoisting engineering vessel with a gross tonnage of 5,384 tons for 125 million yuan, expecting a gain of 10.521 million yuan from the disposal. (Hong Kong Economic Times A12)
Metallurgical Corporation of China (1618 HK) plans to issue up to 14.9 billion yuan of medium term notes and up to 14.4 billion yuan of short-term financing bills within the PRC. The company said it will lower the cost of borrowings and have no material effect on the debt to assets ratio. (Hong Kong Economic Times A12)
PCCW Limited (5 HK) subsidiary PCCW Global has signed a MPLS Inter-Carrier Interconnection agreement with Pakistan Telecommunications Company to strengthen network coverage and service availability. The company will be able to offer seamless connectivity into Pakistan. On the other hand Pakistan Telecommunications Company will be able to use its infrastructure to satisfy requirements in over 100 countries. (Hong Kong Economic Journal P10)
Qin Jia Yuan Media Services (2366 HK) completes its acquisition of 51 per cent of the issued share capital of Rich State Media Enterprises for a consideration of 75 million, partly paid by cash and by issue of new shares. (Hong Kong Economic Journal P8)
Sun Hung Kai Properties (16 HK) just got Tsueng Kwan O site in Feburary this year. It won again yesterday in an auction for Ho Man Tin site, increasing floor area it holds by almost 900,000 feet. (Hong Kong Economic Journal P2)
Tack Fat Group (928 HK) announced that the company will implement the open offer of new shares on the basis of 339 offer shares for every 5 new shares, for reorganizing its business and repaying the debts. (SingTao Daily B3)
Vitasoy International (345 HK) announced that for the year ended 31 march 2010, it posted a net profit of HK$260 million, rising 20 per cent year-on-year, earnings per share amounted to 25.6 HK cents. A final dividend of 13.4 HK cents per share and a special dividend of 10 HK cents each are recommended. (SingTao Daily B3)
Zhongsheng Group (881 HK) signed an agreement with Bank of Communications Beijing Branch that BoCom Beijing will grant a line of credit with a total amount of 4 billion yuan in various forms of credit facilities to the Company. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, June 10, 2010
Hong Kong Stock Market Wrap June 7th, 2010
IPO: Xinjiang Goldwind Science & Technology plans to launch its IPO on Thursday to raise over HK$9 billion at a price of HK$19.8-23 per share. Entry fee is HK$4646.41 yuan per board lot of 200 shares. (Hong Kong Economic Times A6)
China.com Inc. (8006 HK) declares a special dividend of HK$0.88 per share. The company said it has a strong balance sheet and will still have sufficient cash in the long term after distributing the dividends. (Hong Kong Economic Times A8)
China Resources Microelectronics (597 HK) said Executive Director and CEO Wang Guoping had replaced Song Lin as chairman of the Company. Song after his resignation will focus on overall strategies and business of China Resources (Holdings) as its chairman. (Hong Kong Economic Journal P4)
Glorious Sun Enterprises (393 HK) said mainland sales went up in the first 4-month this year and May sales in the mainland saw 2-digit growth but sales in Australia was not satisfactory. The company is confident this year earnings can keep up with last year’s level. (Hong Kong Economic Times A8)
Hang Lung Properties (101 HK) and Hang Lung Group executive director Ng Sze Yuen Terry exercised share options to buy shares in the 2 companies for 37.14 million on 31 May. After the increase in shareholdings, he holds 0.08 per cent and 0.09 per cent stakes of Hang Lung Properties and Hang Lung Group respectively. (Hong Kong Economic Journal P6)
Hongkong Electric Holdings (6 HK) will acquire a 25 per cent stake in Seabank Power from Cheung Kong Infrastructure (1038) for HK$1.234 billion. After the transaction, the company and Cheung Kong Infrastructure will hold seperately 25% of the issued share capital of Seabank Power. (SingTao Daily B12)
Johnson Electric Holdings (179 HK) non-executive director Wang Koo Yik Chun has increased holding of shares in the company by 3 million shares for over HK$12 million. Her shareholding has risen to 59.17 per cent. (SingTao Daily B12)
Wo Kee Hong (720 HK) plans to issue HK$25 million 2-year convertible bonds bearing interest at 4% per annum to raise around HK$24 million for business expansion plan, repaying bank borrowings and general working capital. Initial Conversion Price is HK$0.16 each. (SingTao Daily B12)
Bank of Communications (3328 HK) proposed H share rights issue of shares, on the basis of 1.5 H rights shares for every 10 existing H shares at HK$5.14 per H rights share payable in full on acceptance, being discounted as much as 37.2 per cent compared to its closing price last Friday. (Hong Kong Economic Times A10)
(1211) BYD COMPANY LIMITED ELECTRIC CAR SALES GROWTH SLOWS Distributors said that the sales price for the plug-in hybrid F3DM is 169.8 thousand yuan (excluding licence fee) and there will have 50,000 yuan of subsidy according to the central government’s subsidy policy for new energy -saving cars. The net price is very attractive at an amount within 100 thousand yuan, but the sales growth is slowing. (SingTao Daily B11)
The net interest spread is growing this year, reaching 2.56 per cent in the first quarter and it may reach 2.7-2.8 per cent of net interest spread level, China merchants Bank (3968 HK) said. (Hong Kong Economic Times A10)
China Railway (1186 HK) A-share announced with immediate effect that its executive director and deputy managing director Ding, Yuanchen to retire and will not be responsible for the posts of executive director and deputy managing director. (SingTao Daily B11)
Ping An Insurance’s (2318 HK) insurance funds have started to enter the market and it has set Taiwan Cathay Life Insurance as its strategy target, according to a media source. It also said that Ping An Insurance’s subsidiary, Ping An Property, has also started to organize its property business structure, the source added. (SingTao Daily B11)
Playmates (635 HK) that are mainly engaged in toys industry have several rental properties. The company remains bearish on the future growth of Hong Kong property market. It tends to increase its liquidity and will not consider for any real estate projects investments tentatively. (Hong Kong Economic Journal P7)
DENIED TO REPEAT BUYOUT OF AIA Prudential PLC (2378 HK) denied the rumour that it could have another chance to table an offer of AIA acquisition before the end of this year. (Hong Kong Economic Times A6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China.com Inc. (8006 HK) declares a special dividend of HK$0.88 per share. The company said it has a strong balance sheet and will still have sufficient cash in the long term after distributing the dividends. (Hong Kong Economic Times A8)
China Resources Microelectronics (597 HK) said Executive Director and CEO Wang Guoping had replaced Song Lin as chairman of the Company. Song after his resignation will focus on overall strategies and business of China Resources (Holdings) as its chairman. (Hong Kong Economic Journal P4)
Glorious Sun Enterprises (393 HK) said mainland sales went up in the first 4-month this year and May sales in the mainland saw 2-digit growth but sales in Australia was not satisfactory. The company is confident this year earnings can keep up with last year’s level. (Hong Kong Economic Times A8)
Hang Lung Properties (101 HK) and Hang Lung Group executive director Ng Sze Yuen Terry exercised share options to buy shares in the 2 companies for 37.14 million on 31 May. After the increase in shareholdings, he holds 0.08 per cent and 0.09 per cent stakes of Hang Lung Properties and Hang Lung Group respectively. (Hong Kong Economic Journal P6)
Hongkong Electric Holdings (6 HK) will acquire a 25 per cent stake in Seabank Power from Cheung Kong Infrastructure (1038) for HK$1.234 billion. After the transaction, the company and Cheung Kong Infrastructure will hold seperately 25% of the issued share capital of Seabank Power. (SingTao Daily B12)
Johnson Electric Holdings (179 HK) non-executive director Wang Koo Yik Chun has increased holding of shares in the company by 3 million shares for over HK$12 million. Her shareholding has risen to 59.17 per cent. (SingTao Daily B12)
Wo Kee Hong (720 HK) plans to issue HK$25 million 2-year convertible bonds bearing interest at 4% per annum to raise around HK$24 million for business expansion plan, repaying bank borrowings and general working capital. Initial Conversion Price is HK$0.16 each. (SingTao Daily B12)
Bank of Communications (3328 HK) proposed H share rights issue of shares, on the basis of 1.5 H rights shares for every 10 existing H shares at HK$5.14 per H rights share payable in full on acceptance, being discounted as much as 37.2 per cent compared to its closing price last Friday. (Hong Kong Economic Times A10)
(1211) BYD COMPANY LIMITED ELECTRIC CAR SALES GROWTH SLOWS Distributors said that the sales price for the plug-in hybrid F3DM is 169.8 thousand yuan (excluding licence fee) and there will have 50,000 yuan of subsidy according to the central government’s subsidy policy for new energy -saving cars. The net price is very attractive at an amount within 100 thousand yuan, but the sales growth is slowing. (SingTao Daily B11)
The net interest spread is growing this year, reaching 2.56 per cent in the first quarter and it may reach 2.7-2.8 per cent of net interest spread level, China merchants Bank (3968 HK) said. (Hong Kong Economic Times A10)
China Railway (1186 HK) A-share announced with immediate effect that its executive director and deputy managing director Ding, Yuanchen to retire and will not be responsible for the posts of executive director and deputy managing director. (SingTao Daily B11)
Ping An Insurance’s (2318 HK) insurance funds have started to enter the market and it has set Taiwan Cathay Life Insurance as its strategy target, according to a media source. It also said that Ping An Insurance’s subsidiary, Ping An Property, has also started to organize its property business structure, the source added. (SingTao Daily B11)
Playmates (635 HK) that are mainly engaged in toys industry have several rental properties. The company remains bearish on the future growth of Hong Kong property market. It tends to increase its liquidity and will not consider for any real estate projects investments tentatively. (Hong Kong Economic Journal P7)
DENIED TO REPEAT BUYOUT OF AIA Prudential PLC (2378 HK) denied the rumour that it could have another chance to table an offer of AIA acquisition before the end of this year. (Hong Kong Economic Times A6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap June 4th, 2010
AAC Acoustic (2018 HK) announced yesterday that it is going to set up a joint venture company Xenon Technologies with an international private-equity firm. AAC Acoustic will hold 39 per cent of its share holding to further acquire the flash light business. (Hong Kong Economic Journal P6)
Sales in the Mainland property market last month plunged, as the government’s tightening measures started to bite. Agile Property (3383 HK) and Kaisa Group Holdings Ltd. (1638) announced that the contract sales amount in May went down 33 per cent and 17 per cent respectively compared to those in April. (Hong Kong Economic Journal P13)
IPO: Sources said that AgBank’s net profit in 2009 amounted to 65 billion yuan, rising 26 per cent year-on year. The bank expects that its net profit can reach 84 billion yuan this year, being equivalent to 29 per cent of growth. (Hong Kong Economic Times A10)
Ajisen (China) (538 HK) said 1H overall same store sales went up and same store sales in HK returned to the black. The company is confident to achieve full-year gross profit margin of 68-69 per cent, targeting to add 120 stores this year. (SingTao Daily B4)
Continental Holdings (513 HK) acquires from MMCL and Famous Key a total of 18.09 per cent of the issued share capital of MMS through an indirect wholly-owned subsidiary Trade Bloom for around HK$139.8 million, to be fully satisfied by issuing convertible notes.
(SingTao Daily B4)
Coolpoint Energy (8032 HK) has appointed gymnastics hero Li Ning to take over Wang Yi Nan’s position as chairman of the company. Share price of the company closed at HK$0.445 yesterday, up 1.15 per cent. (SingTao Daily B4)
(493) GOME ELECTRICAL APPLIANCES HOLDING LIMITED CHINA TO EXTEND HOME APPLIANCE TRADE-IN PROGRAM China will extend its home-appliance trade-in program to other regions throughout the country from 1 June 2010 and to end tentatively on 31 December 2011, the Ministry of Commerce said. (Hong Kong Economic Times A12)
Haier Electronics (1169 HK) announced that for the purpose of further improving the product structure, it will launch its first global Internet-of-Things washing machine and the EASY series of washing machine products, which were developed to satisfy the end-users’ differentiated demand. (Hong Kong Economic Times A12)
Announcement from CIB shows that Hang Seng Bank (11 HK) holds around 766.9 million shares or 12.8 per cent shares of CIB, up 0.02 percentage points over the figure before rights issue, keeping its place as the second largest shareholder of CIB. (SingTao Daily B4)
XINHUANET quoting comment from Industrial and Commercial Bank of China (1398 HK) chairman Jiang Jian Qing reported that the bank planned to add 5 branches in Europe. The report said the bank had 180 branches overseas at present. (SingTao Daily B4)
Mongolia Energy (276 HK) awards Leighton Asia an AUD273 million worth 6-year contract to develop and operate the Khushuut coal mine project in western Mongolia, the second contract the former has awarded to the latter in western Mongolia. The latter will be responsible for all mining activities. Initial output of coking coal sets to be 3 million tonnes per annum. (SingTao Daily B4)
Pan Asia Environmental Protection (556 HK) chairman Jiang Quan Long said the group intended to enter new environmental protection businesses and had bought in equipment for producing green wall material to be put into operation in Oct 2010. (SingTao Daily B4)
Tanrich Financial (812 HK) CEO Kwok Kam Hoi said Tanrich Securities planned to sponsor 3 HK companies to list in Hong Kong in 2H this year, including a food company planning to raise funds in the main board and an underwear and men’s suit enterprise to be listed on GEM by way of placement of shares. (SingTao Daily B4)
TPV Technology Limited (903 HK) announced that it recorded US$2.4 billion of total revenue in the first quarter ended 31 March 2010, up 72.9 per cent compared to that of the last year. Profits attributable to shareholders rose to 170.1 per cent year-on-year to HK$40.2 million. (Hong Kong Economic Journal P6)
Victory City (539 HK) announced that it plans to split its subsidiary Fuyuan Group, which is involved in the businesses of purchasing management, production and clothing products trading, to list on Main Board. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Sales in the Mainland property market last month plunged, as the government’s tightening measures started to bite. Agile Property (3383 HK) and Kaisa Group Holdings Ltd. (1638) announced that the contract sales amount in May went down 33 per cent and 17 per cent respectively compared to those in April. (Hong Kong Economic Journal P13)
IPO: Sources said that AgBank’s net profit in 2009 amounted to 65 billion yuan, rising 26 per cent year-on year. The bank expects that its net profit can reach 84 billion yuan this year, being equivalent to 29 per cent of growth. (Hong Kong Economic Times A10)
Ajisen (China) (538 HK) said 1H overall same store sales went up and same store sales in HK returned to the black. The company is confident to achieve full-year gross profit margin of 68-69 per cent, targeting to add 120 stores this year. (SingTao Daily B4)
Continental Holdings (513 HK) acquires from MMCL and Famous Key a total of 18.09 per cent of the issued share capital of MMS through an indirect wholly-owned subsidiary Trade Bloom for around HK$139.8 million, to be fully satisfied by issuing convertible notes.
(SingTao Daily B4)
Coolpoint Energy (8032 HK) has appointed gymnastics hero Li Ning to take over Wang Yi Nan’s position as chairman of the company. Share price of the company closed at HK$0.445 yesterday, up 1.15 per cent. (SingTao Daily B4)
(493) GOME ELECTRICAL APPLIANCES HOLDING LIMITED CHINA TO EXTEND HOME APPLIANCE TRADE-IN PROGRAM China will extend its home-appliance trade-in program to other regions throughout the country from 1 June 2010 and to end tentatively on 31 December 2011, the Ministry of Commerce said. (Hong Kong Economic Times A12)
Haier Electronics (1169 HK) announced that for the purpose of further improving the product structure, it will launch its first global Internet-of-Things washing machine and the EASY series of washing machine products, which were developed to satisfy the end-users’ differentiated demand. (Hong Kong Economic Times A12)
Announcement from CIB shows that Hang Seng Bank (11 HK) holds around 766.9 million shares or 12.8 per cent shares of CIB, up 0.02 percentage points over the figure before rights issue, keeping its place as the second largest shareholder of CIB. (SingTao Daily B4)
XINHUANET quoting comment from Industrial and Commercial Bank of China (1398 HK) chairman Jiang Jian Qing reported that the bank planned to add 5 branches in Europe. The report said the bank had 180 branches overseas at present. (SingTao Daily B4)
Mongolia Energy (276 HK) awards Leighton Asia an AUD273 million worth 6-year contract to develop and operate the Khushuut coal mine project in western Mongolia, the second contract the former has awarded to the latter in western Mongolia. The latter will be responsible for all mining activities. Initial output of coking coal sets to be 3 million tonnes per annum. (SingTao Daily B4)
Pan Asia Environmental Protection (556 HK) chairman Jiang Quan Long said the group intended to enter new environmental protection businesses and had bought in equipment for producing green wall material to be put into operation in Oct 2010. (SingTao Daily B4)
Tanrich Financial (812 HK) CEO Kwok Kam Hoi said Tanrich Securities planned to sponsor 3 HK companies to list in Hong Kong in 2H this year, including a food company planning to raise funds in the main board and an underwear and men’s suit enterprise to be listed on GEM by way of placement of shares. (SingTao Daily B4)
TPV Technology Limited (903 HK) announced that it recorded US$2.4 billion of total revenue in the first quarter ended 31 March 2010, up 72.9 per cent compared to that of the last year. Profits attributable to shareholders rose to 170.1 per cent year-on-year to HK$40.2 million. (Hong Kong Economic Journal P6)
Victory City (539 HK) announced that it plans to split its subsidiary Fuyuan Group, which is involved in the businesses of purchasing management, production and clothing products trading, to list on Main Board. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap June 3rd, 2010
IPO: AgBank will attend its H-share IPO hearing next Thursday (June 10), a source said. If everything is going well, it may launch it’s A-share IPO on July 15 and to list in Hong Kong on July 16. (SingTao Daily B1)
Aeon Stores (Hong Kong) (984 HK) Managing Director Lam Man Tin Soul said April retail sales in HK grew substantially driven by rising number of mainland tourist but expected the growth in 2H to be slightly slower than that in 1H. Capital spending amounted to around HK$100 million this year. (Hong Kong Economic Journal P10)
ANTA Sports Products (2020 HK) announced its results in 2010 winter order fair. Order amount went up over 25 per cent over the same period last year. JP Morgan said order amount for the full-year of 2010 went up 22 per cent yoy, 3 percentage points higher than its forecast. (Hong Kong Economic Times A8)
Directel Holdings listed (8337 HK) on GEM yesterday, closing at HK$0.38, up 27 per cent. Transaction volume for the whole day reached HK$35.4 million. (Hong Kong Economic Journal P4)
Foxconn International (2038 HK) will increase salaries and wages to workers, supervisors and leaders engaged on production lines in the mainland by 30 per cent. The company said this was expected to help staff retention and recruitment but would increase operating costs. (Hong Kong Economic Journal P1)
Galaxy Entertainment (27 HK) saw EBITDA increase 79 per cent over quarter one 2009 to HK$417 million in the first quarter this year. Revenues rose 51 per cent over quarter one last year to HK$3.95 billion. Galaxy Macau™ will be opened in early 2011. (Hong Kong Economic Times A8)
Henderson Land Development (12 HK) chairman Lee Shau Kee increased holding of shares in the company by 1.1086 million shares, 851,000 shares and 1.0007 million shares on 27 May, 28 May and 31 May respectively. (Hong Kong Economic Journal P12)
I.T. (999 HK) saw profit climb 5.17 times to HK$263 million for the year ended 28 February 2010. Earnings per share were HK$0.23. Final dividend of HK$0.105 per share was declared with an option to elect scrip shares. (Hong Kong Economic Times A8)
International Elite Ltd. (1328 HK) has noted a press article alleging that the PRC Telecom Operator has stopped using RF-SIM as its standard for its future mobile payment development. The Company responded that the PRC Telecom Operator has not made any affirmative final decision in relation to the standard for its future mobile payment development; and the Sunward Group’s customers that RF-SIM cards are still being produced and supplied ultimately to the PRC Telecom Operator. (SingTao Daily B2)
(0960) LONGFOR PROPERTIES CO. LTD. WUXI PROJECTS 105 SETS SUBSCRIBED The company announced that its Wuxi projects have been subscribed for 105 sets, over 95 per cent of subscription rate, involving capital of around 420 million yuan. (SingTao Daily B2)
Prudential’s plan (2378 HK) for AIA acquisition was cancelled following strong opposition from fund shareholders. The company is required to pay handling charges for AIG and bear financial consulting fee amounting to as much as HK$5.1 billion. (SingTao Daily B1)
Shui On Construction (983 HK) and Materials sold around 317 million shares of Shanghai Electric Group Company Limited to Shui On Group for around HK$1.08 billion. (SingTao Daily B2)
Guoco Group (23 HK) has repeatedly increased its interests on the Bank of East Asia, holding up to 9.12 per cent of its stocks. David Li Kwok Po, chairman of BEA, said that it was not clear about the motive of Guoco Group’s increasing stake holding. (SingTao Daily B3)
The Link Real Estate Investment (823 HK) announced yesterday that its distributable proceeds amounted to 2.134 billion for the year ended 31 March 2010, up 17 per cent year-on-year. A final dividend of 49.02 HK cents per fund unit was declared. (SingTao Daily B2)
CHAIRMAN ARRESTED RUMOUR; PLUNGE 11% It was rumoured that Mainland public security department arrested the company chairman Wang Yusuo following the opening of the stock market yesterday. The stock price plummeted 22 percent just in one hour. The company’s spokesperson said the message is incorrect. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Aeon Stores (Hong Kong) (984 HK) Managing Director Lam Man Tin Soul said April retail sales in HK grew substantially driven by rising number of mainland tourist but expected the growth in 2H to be slightly slower than that in 1H. Capital spending amounted to around HK$100 million this year. (Hong Kong Economic Journal P10)
ANTA Sports Products (2020 HK) announced its results in 2010 winter order fair. Order amount went up over 25 per cent over the same period last year. JP Morgan said order amount for the full-year of 2010 went up 22 per cent yoy, 3 percentage points higher than its forecast. (Hong Kong Economic Times A8)
Directel Holdings listed (8337 HK) on GEM yesterday, closing at HK$0.38, up 27 per cent. Transaction volume for the whole day reached HK$35.4 million. (Hong Kong Economic Journal P4)
Foxconn International (2038 HK) will increase salaries and wages to workers, supervisors and leaders engaged on production lines in the mainland by 30 per cent. The company said this was expected to help staff retention and recruitment but would increase operating costs. (Hong Kong Economic Journal P1)
Galaxy Entertainment (27 HK) saw EBITDA increase 79 per cent over quarter one 2009 to HK$417 million in the first quarter this year. Revenues rose 51 per cent over quarter one last year to HK$3.95 billion. Galaxy Macau™ will be opened in early 2011. (Hong Kong Economic Times A8)
Henderson Land Development (12 HK) chairman Lee Shau Kee increased holding of shares in the company by 1.1086 million shares, 851,000 shares and 1.0007 million shares on 27 May, 28 May and 31 May respectively. (Hong Kong Economic Journal P12)
I.T. (999 HK) saw profit climb 5.17 times to HK$263 million for the year ended 28 February 2010. Earnings per share were HK$0.23. Final dividend of HK$0.105 per share was declared with an option to elect scrip shares. (Hong Kong Economic Times A8)
International Elite Ltd. (1328 HK) has noted a press article alleging that the PRC Telecom Operator has stopped using RF-SIM as its standard for its future mobile payment development. The Company responded that the PRC Telecom Operator has not made any affirmative final decision in relation to the standard for its future mobile payment development; and the Sunward Group’s customers that RF-SIM cards are still being produced and supplied ultimately to the PRC Telecom Operator. (SingTao Daily B2)
(0960) LONGFOR PROPERTIES CO. LTD. WUXI PROJECTS 105 SETS SUBSCRIBED The company announced that its Wuxi projects have been subscribed for 105 sets, over 95 per cent of subscription rate, involving capital of around 420 million yuan. (SingTao Daily B2)
Prudential’s plan (2378 HK) for AIA acquisition was cancelled following strong opposition from fund shareholders. The company is required to pay handling charges for AIG and bear financial consulting fee amounting to as much as HK$5.1 billion. (SingTao Daily B1)
Shui On Construction (983 HK) and Materials sold around 317 million shares of Shanghai Electric Group Company Limited to Shui On Group for around HK$1.08 billion. (SingTao Daily B2)
Guoco Group (23 HK) has repeatedly increased its interests on the Bank of East Asia, holding up to 9.12 per cent of its stocks. David Li Kwok Po, chairman of BEA, said that it was not clear about the motive of Guoco Group’s increasing stake holding. (SingTao Daily B3)
The Link Real Estate Investment (823 HK) announced yesterday that its distributable proceeds amounted to 2.134 billion for the year ended 31 March 2010, up 17 per cent year-on-year. A final dividend of 49.02 HK cents per fund unit was declared. (SingTao Daily B2)
CHAIRMAN ARRESTED RUMOUR; PLUNGE 11% It was rumoured that Mainland public security department arrested the company chairman Wang Yusuo following the opening of the stock market yesterday. The stock price plummeted 22 percent just in one hour. The company’s spokesperson said the message is incorrect. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap June 2nd, 2010
Bank of China (3988 HK) is reviewing the regional government’s loan financing platform as required by China Banking Regulatory Commission, BOC’s President Li Lihui said at a road show via Internet for 40 billion yuan worth of A-share convertible bonds. He expects that the move will not affect the bank’s capital quality. (Sing Tao Daily B4)
China Everbright (165 HK) announced yesterday that its subsidiary Everbright ALAM has sold up to a 39% stake to the UK-owned Ashmore Investment Management Limited. China Everbright and Ashmore will become new strategic partners following the transaction. Ashmore will also provide funds for China Everbright for future growth of Mainland real estate business. (Sing Tao Daily B4)
The natural gas price increased by the National Development and Reform Commission only has little impact on China Bluechemical (3983 HK), Citibank reported. The bank set its rating of China Bluechemical as “buy” and the target price at HK$6.4. (Sing Tao Daily B11)
CR Cement (1313 HK) announced on June 1 that it agreed to acquire from Mr. Xing 72 per cent of the issued share capital of Guardwise Investments for a consideration of $72. Both parties agreed to provide Fulong Cement with a total amount of not exceeding 2.11 billion yuan. (Sing Tao Daily B4)
China Sci-Tech (985 HK) chairman Chiu Tao said the company would focus on copper resources and G-Resources (1051) would focus on investing in gold ores. On being asked about the placing of shares by the company, he said he would subscribe US$100 million shares with 2-year lock-up period. (Hong Kong Economic Times A12)
CNOOC New Energy Investment under CNOOC (883 HK) announced forming a JV with Altona Energy last year. Altona Energy said yesterday Australian Foreign Investment Review Board had approved of the project and of their developing Arckaringa project in Southern Australia jointly.
(Hong Kong Economic Journal P4)
First Pacific (142 HK) plans to repurchase up to US$130 million in value of its shares from the open market in 24-month. Based on the yesterday’s closing price of HK$5.09, the company said it would repurchase around 5 per cent existing share capital via the plan. (Hong Kong Economic Times A12)
Guangzhou R&F Properties (2777 HK) saw contracted sales and areas in May this year drop 48.9 per cent and 42 per cent over those of April respectively to 1.253 billion yuan and 106,000 sqm, down 48 per cent and 58 per cent over the same period last year. (Hong Kong Economic Times A12)
Guoco Group (53 HK) increased holding of shares in The Bank of East Asia (0023) by 2.5 million shares for over HK$66.98 million at a price of HK$26.793 per share in average last Friday. (Hong Kong Economic Journal P4)
HSBC Holdings (5 HK) said yuan deposits in the bank in April grew over 10 per cent and the growth continued in May. Bloomberg quoting a comment from the bank said May yuan deposits in the bank enjoyed reasonable growth, reflecting that Europe debt crisis didn’t affect interests in yuan deposits. (Hong Kong Economic Journal P7)
Le Saunda (738 HK) announced that its net profit surged almost 20 per cent over the last year. It is expected that the market will re-evaluate the share price and to pick up under the weakened market, as its value is undervalued. (Sing Tao Daily B11)
Prosperity Minerals (803 HK) announced yesterday that it is to set up a joint venture to develop Fujian resort and residential projects including developing facilities of hot spring resort, residents and commercial buildings, etc. (Sing Tao Daily B4)
(2378) PRUDENTIAL PLC MAY CANCEL TRANSACTION WITH AIA The transaction between the two insurance giants may be cancelled, leading to the listing of AIA being discussed again. Perhaps the cancellation is not bad to both sides, as there are risks for the merger of two companies. (Sing Tao Daily B2)
(0891) TRINITY LIMITED TO INCREASE 55 NEW MAINLAND STORES THIS YEAR The company reaped desirable proceeds in the first five-month period and it is confident that it may reach a double-digit growth for the full year same-store sales. The company’s sale mobility comes from China’s second-tier and third-tier cities, so it will increase at least 55 new stores in the Mainland this year. (Sing Tao Daily B4)
Yuzhou Properties (1628 HK) acquires the entire registered capital of Shanghai Xiersi for a total consideration of 285.5 million yuan so as to enter large-scale shopping mall projects in Shanghai. (Hong Kong Economic Journal P12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Everbright (165 HK) announced yesterday that its subsidiary Everbright ALAM has sold up to a 39% stake to the UK-owned Ashmore Investment Management Limited. China Everbright and Ashmore will become new strategic partners following the transaction. Ashmore will also provide funds for China Everbright for future growth of Mainland real estate business. (Sing Tao Daily B4)
The natural gas price increased by the National Development and Reform Commission only has little impact on China Bluechemical (3983 HK), Citibank reported. The bank set its rating of China Bluechemical as “buy” and the target price at HK$6.4. (Sing Tao Daily B11)
CR Cement (1313 HK) announced on June 1 that it agreed to acquire from Mr. Xing 72 per cent of the issued share capital of Guardwise Investments for a consideration of $72. Both parties agreed to provide Fulong Cement with a total amount of not exceeding 2.11 billion yuan. (Sing Tao Daily B4)
China Sci-Tech (985 HK) chairman Chiu Tao said the company would focus on copper resources and G-Resources (1051) would focus on investing in gold ores. On being asked about the placing of shares by the company, he said he would subscribe US$100 million shares with 2-year lock-up period. (Hong Kong Economic Times A12)
CNOOC New Energy Investment under CNOOC (883 HK) announced forming a JV with Altona Energy last year. Altona Energy said yesterday Australian Foreign Investment Review Board had approved of the project and of their developing Arckaringa project in Southern Australia jointly.
(Hong Kong Economic Journal P4)
First Pacific (142 HK) plans to repurchase up to US$130 million in value of its shares from the open market in 24-month. Based on the yesterday’s closing price of HK$5.09, the company said it would repurchase around 5 per cent existing share capital via the plan. (Hong Kong Economic Times A12)
Guangzhou R&F Properties (2777 HK) saw contracted sales and areas in May this year drop 48.9 per cent and 42 per cent over those of April respectively to 1.253 billion yuan and 106,000 sqm, down 48 per cent and 58 per cent over the same period last year. (Hong Kong Economic Times A12)
Guoco Group (53 HK) increased holding of shares in The Bank of East Asia (0023) by 2.5 million shares for over HK$66.98 million at a price of HK$26.793 per share in average last Friday. (Hong Kong Economic Journal P4)
HSBC Holdings (5 HK) said yuan deposits in the bank in April grew over 10 per cent and the growth continued in May. Bloomberg quoting a comment from the bank said May yuan deposits in the bank enjoyed reasonable growth, reflecting that Europe debt crisis didn’t affect interests in yuan deposits. (Hong Kong Economic Journal P7)
Le Saunda (738 HK) announced that its net profit surged almost 20 per cent over the last year. It is expected that the market will re-evaluate the share price and to pick up under the weakened market, as its value is undervalued. (Sing Tao Daily B11)
Prosperity Minerals (803 HK) announced yesterday that it is to set up a joint venture to develop Fujian resort and residential projects including developing facilities of hot spring resort, residents and commercial buildings, etc. (Sing Tao Daily B4)
(2378) PRUDENTIAL PLC MAY CANCEL TRANSACTION WITH AIA The transaction between the two insurance giants may be cancelled, leading to the listing of AIA being discussed again. Perhaps the cancellation is not bad to both sides, as there are risks for the merger of two companies. (Sing Tao Daily B2)
(0891) TRINITY LIMITED TO INCREASE 55 NEW MAINLAND STORES THIS YEAR The company reaped desirable proceeds in the first five-month period and it is confident that it may reach a double-digit growth for the full year same-store sales. The company’s sale mobility comes from China’s second-tier and third-tier cities, so it will increase at least 55 new stores in the Mainland this year. (Sing Tao Daily B4)
Yuzhou Properties (1628 HK) acquires the entire registered capital of Shanghai Xiersi for a total consideration of 285.5 million yuan so as to enter large-scale shopping mall projects in Shanghai. (Hong Kong Economic Journal P12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap June 1st, 2010
BBMG Corporation (2009 HK) announced that the company plans to acquire assets of cement, new building materials, property development and real estate investment for a consideration of 2.65 billion yuan. (SingTao Daily B4)
Air China Limited was approved by the shareholders to issue new H and A shares so as to strengthen its capital and develop its business. As Cathay Pacific (293 HK) was not on the list of H-share investors, it bought Air China at a price of HK$7.087 to increase 18 million shares of Air China for HK$127.5 million on May 26, edging up its share holding 0.1 per cent to 18.48 per cent. (SingTao Daily B2)
Macquarie has rated China Merchants Holdings (144 HK) shares “outperform”, with target price of HK$31, saying that exports from China to Northern America and in Asia will recover strongly. (Hong Kong Economic Times A12)
China WindPower Group (182 HK) has entered into two contracts to purchase wind power electricity generation equipment for a total of HK$1.346 billion. Consideration will be paid in cash by installment. (Hong Kong Economic Journal P4)
China XLX Fertiliser (1866 HK) chairman Liu Xing Xu expected demand for chemical fertilizers to go up 5 per cent in China this year and overall gross profit margin of the company this year, driven by oil and food prices, to be slightly above the figure last year. (Hong Kong Economic Times A14)
Heng Tai Consumables (197 HK) issues 100 million units of TDRs today, involving 500 million underlying shares, representing 17.68 per cent of its issued share capital. (Hong Kong Economic Journal P8)
Johnson Electric Holdings Limited (179 HK) announced yesterday that for the financial year ended 31st March 2010, its net earnings increased to US$75.5 million, up 28 times year-on-year. A final dividend of 5 HK cents per share was recommended. (SingTao Daily B4)
Le Saunda (738 HK) announced that its profit increased by 70 per cent to HK$123 million for the year ended 28 Feb 2010. Profit per share is 19.2 HK cents. A final dividend 7 HK cents per share was declared. (SingTao Daily B4)
The old-share allotment transaction by Midland’s (1200 HK) chairman and founder was listed last week. It shows that Wong and his wife decreased holding of 60 million shares holding of Midland at a price of HK$5.9 per share, according to disclosure of interest of major shareholders. (SingTao Daily B4)
Netel Technology (8256 HK) announced that the company entered into the subscription agreements with the two subscribers to allot and issue each for 15 million shares at a price of HK$0.17 per share, around 19 per cent discount compared to its closing price yesterday. (SingTao Daily B4)
PICC Property and Casualty (2328 HK) plans to issue 10-year subordinated term debts with an aggregate principal amount of not exceeding 8 billion yuan in order to raise its solvency margin. (Hong Kong Economic Journal P8)
Qin Jia Yuan Media (2366 HK) announced that the Japanese privately-offered fund will issue as much as HK$121 million of 5-year term Series A and Series B non-listed convertible bonds to privately-offered fund Advantage Partners L.L.P. (SingTao Daily B4)
Shimao Property (813 HK) executive director Hui Sai Tan Jason said contracted sales was around 1.5 billion yuan in May, lower than the 2.5 billion yuan in April. It is expected that the sales will be back to April’s level in June. (Hong Kong Economic Times A14)
Yuexiu Property (123 HK), GZI Transport (1052) and GZI REIT (0405) announced that Guangzhou Municipal People’s Government had transferred its interest in the entire issued share capital of Yue Xiu Enterprises to Guangzhou Yue Xiu Holdings, a company newly formed by the Guangzhou Government. (Hong Kong Economic Journal P8)
Xinjiang Goldwind Science and Technology (2208 HK) is to raise HK$7.827-9.092 billion for 395.3 million shares at a price of HK$19.8-23 per share. The entry fee is HK$4646 per lot (200 shares). It will be listed on Jun 22. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Air China Limited was approved by the shareholders to issue new H and A shares so as to strengthen its capital and develop its business. As Cathay Pacific (293 HK) was not on the list of H-share investors, it bought Air China at a price of HK$7.087 to increase 18 million shares of Air China for HK$127.5 million on May 26, edging up its share holding 0.1 per cent to 18.48 per cent. (SingTao Daily B2)
Macquarie has rated China Merchants Holdings (144 HK) shares “outperform”, with target price of HK$31, saying that exports from China to Northern America and in Asia will recover strongly. (Hong Kong Economic Times A12)
China WindPower Group (182 HK) has entered into two contracts to purchase wind power electricity generation equipment for a total of HK$1.346 billion. Consideration will be paid in cash by installment. (Hong Kong Economic Journal P4)
China XLX Fertiliser (1866 HK) chairman Liu Xing Xu expected demand for chemical fertilizers to go up 5 per cent in China this year and overall gross profit margin of the company this year, driven by oil and food prices, to be slightly above the figure last year. (Hong Kong Economic Times A14)
Heng Tai Consumables (197 HK) issues 100 million units of TDRs today, involving 500 million underlying shares, representing 17.68 per cent of its issued share capital. (Hong Kong Economic Journal P8)
Johnson Electric Holdings Limited (179 HK) announced yesterday that for the financial year ended 31st March 2010, its net earnings increased to US$75.5 million, up 28 times year-on-year. A final dividend of 5 HK cents per share was recommended. (SingTao Daily B4)
Le Saunda (738 HK) announced that its profit increased by 70 per cent to HK$123 million for the year ended 28 Feb 2010. Profit per share is 19.2 HK cents. A final dividend 7 HK cents per share was declared. (SingTao Daily B4)
The old-share allotment transaction by Midland’s (1200 HK) chairman and founder was listed last week. It shows that Wong and his wife decreased holding of 60 million shares holding of Midland at a price of HK$5.9 per share, according to disclosure of interest of major shareholders. (SingTao Daily B4)
Netel Technology (8256 HK) announced that the company entered into the subscription agreements with the two subscribers to allot and issue each for 15 million shares at a price of HK$0.17 per share, around 19 per cent discount compared to its closing price yesterday. (SingTao Daily B4)
PICC Property and Casualty (2328 HK) plans to issue 10-year subordinated term debts with an aggregate principal amount of not exceeding 8 billion yuan in order to raise its solvency margin. (Hong Kong Economic Journal P8)
Qin Jia Yuan Media (2366 HK) announced that the Japanese privately-offered fund will issue as much as HK$121 million of 5-year term Series A and Series B non-listed convertible bonds to privately-offered fund Advantage Partners L.L.P. (SingTao Daily B4)
Shimao Property (813 HK) executive director Hui Sai Tan Jason said contracted sales was around 1.5 billion yuan in May, lower than the 2.5 billion yuan in April. It is expected that the sales will be back to April’s level in June. (Hong Kong Economic Times A14)
Yuexiu Property (123 HK), GZI Transport (1052) and GZI REIT (0405) announced that Guangzhou Municipal People’s Government had transferred its interest in the entire issued share capital of Yue Xiu Enterprises to Guangzhou Yue Xiu Holdings, a company newly formed by the Guangzhou Government. (Hong Kong Economic Journal P8)
Xinjiang Goldwind Science and Technology (2208 HK) is to raise HK$7.827-9.092 billion for 395.3 million shares at a price of HK$19.8-23 per share. The entry fee is HK$4646 per lot (200 shares). It will be listed on Jun 22. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap May 31st, 2010
Cheung Kong (Holdings) (1 HK) chairman Li Ka-shing increased holdings of shares in Cheung Kong (Holdings) and Hutchison Whampoa (0013) separately on 26 May for a total of HK$31.95 million. (Hong Kong Economic Times A10)
China Haidian (256 HK) said that sales of watches in the first 5-month went up faster than the same period last year and that it was confident that the sales would grow over 26 per cent this year. (Hong Kong Economic Journal P4)
Mainland media said Shanghai International Port, 26 per cent interest held by China Merchants Holdings (144 HK), had bought 25 per cent interest in Belgium Zeebrugge for HK$265 million. (SingTao Daily B12)
China Pharmaceutical (1093 HK) recorded net profit of HK$235 million in the first quarter this year, down over 10 per cent. Earnings per share were 15.3 HK cents. No dividend was declared. (SingTao Daily B12)
China Resources Enterprise (291 HK) said capital spending went up almost 20 per cent to around HK$7 billion this year. The company is exploring 6-7 acquisition projects and expects to confirm at least 1-2 projects this year. (Hong Kong Economic Times A10)
Emperor Capital (717 HK) earned over HK$48.5 million for the six months ended 31 March 2010. Revenue went up almost 3 times over the same period last year. An interim dividend of HK$0.01 per share was declared. (Hong Kong Economic Journal P5)
SinoMedia Holding (623 HK) chairman Chen Xin said operating income went up over 50 per cent over the same period last year in the first 4-month this year but 2010 target for gross profit was to keep last year’s level as costs were also rising. (SingTao Daily B12)
Bank of China Limited (3988 HK) announced in the Shanghai Exchange yesterday that it will hold a road show via internet on June 1 for its 40 billion yuan convertible bonds. Investors can buy the six-year bond on June 2. The share price was adjusted to 3.88 yuan per share from 4.02 yuan per share. (SingTao Daily B11)
Beiren Printing Machinery Holdings Limited (187 HK) is in the process of negotiation in relation to several important transactions if the same can be approved. The company announced that its trading in the A shares of the company will be suspended for 3 days on 31 May 2010 (Monday), 1 June 2010 (Tuesday) and 2 June 2010 (Wednesday), as it is in the interests of the investors and to ensure fair disclosure of information. (SingTao Daily B11)
Recently, certain media published or reproduced articles about China National Building Material Company’s (3323 HK) subsidiaries, headed “Over 3,000 claims against BNBM were brought to the court for an amount probably exceeding US$1 billion in the US” and “Gypsum board of BNBM aroused complaints in US, experts insisted on its innocence”. The company said the report is incorrect. (Hong Kong Economic Times A12)
Gold Peak Industries (Holdings) Limited (40 HK) announced that the company recorded a profit of S$33.9 million, compared to a loss of HK$32.9 million last year. A final dividend of 10.88 HK cents per share is recommended. (SingTao Daily B11)
IPO: International Taifeng Holdings Limited is to launch its first IPO today to raise 577 million to 865 million yuan at a price of 2.06- 3.09 yuan per share. Entry fee is 6242.36 yuan per lot (2000 shares). (Hong Kong Economic Journal P2)
Legend Holdings Ltd. (992 HK), parent company of Lenovo Group Limited, plans to list in Hong Kong in five to seven years, according to CEO of Lenovo Group. In addition, its property business may also be listed to the Mainland stock market. (Hong Kong Economic Journal P4)
SMI Corporation Limited (198 HK) has acquired Australia-based Photon shares and it expects to start building a 3D producing base and a training school. (SingTao Daily B11)
Standard Chartered PLC (2888 HK) has completed a successful book-building process for its proposed listing of Indian Depository Receipts (“IDRs”), and has now closed the offer. The issue price per IDR will be INR 104. A total of 240 million IDRs will be issued producing gross proceeds of approximately INR 24.9 billion. The net proceeds receivable by the bank are approximately INR 24.6 billion. (SingTao Daily B11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Haidian (256 HK) said that sales of watches in the first 5-month went up faster than the same period last year and that it was confident that the sales would grow over 26 per cent this year. (Hong Kong Economic Journal P4)
Mainland media said Shanghai International Port, 26 per cent interest held by China Merchants Holdings (144 HK), had bought 25 per cent interest in Belgium Zeebrugge for HK$265 million. (SingTao Daily B12)
China Pharmaceutical (1093 HK) recorded net profit of HK$235 million in the first quarter this year, down over 10 per cent. Earnings per share were 15.3 HK cents. No dividend was declared. (SingTao Daily B12)
China Resources Enterprise (291 HK) said capital spending went up almost 20 per cent to around HK$7 billion this year. The company is exploring 6-7 acquisition projects and expects to confirm at least 1-2 projects this year. (Hong Kong Economic Times A10)
Emperor Capital (717 HK) earned over HK$48.5 million for the six months ended 31 March 2010. Revenue went up almost 3 times over the same period last year. An interim dividend of HK$0.01 per share was declared. (Hong Kong Economic Journal P5)
SinoMedia Holding (623 HK) chairman Chen Xin said operating income went up over 50 per cent over the same period last year in the first 4-month this year but 2010 target for gross profit was to keep last year’s level as costs were also rising. (SingTao Daily B12)
Bank of China Limited (3988 HK) announced in the Shanghai Exchange yesterday that it will hold a road show via internet on June 1 for its 40 billion yuan convertible bonds. Investors can buy the six-year bond on June 2. The share price was adjusted to 3.88 yuan per share from 4.02 yuan per share. (SingTao Daily B11)
Beiren Printing Machinery Holdings Limited (187 HK) is in the process of negotiation in relation to several important transactions if the same can be approved. The company announced that its trading in the A shares of the company will be suspended for 3 days on 31 May 2010 (Monday), 1 June 2010 (Tuesday) and 2 June 2010 (Wednesday), as it is in the interests of the investors and to ensure fair disclosure of information. (SingTao Daily B11)
Recently, certain media published or reproduced articles about China National Building Material Company’s (3323 HK) subsidiaries, headed “Over 3,000 claims against BNBM were brought to the court for an amount probably exceeding US$1 billion in the US” and “Gypsum board of BNBM aroused complaints in US, experts insisted on its innocence”. The company said the report is incorrect. (Hong Kong Economic Times A12)
Gold Peak Industries (Holdings) Limited (40 HK) announced that the company recorded a profit of S$33.9 million, compared to a loss of HK$32.9 million last year. A final dividend of 10.88 HK cents per share is recommended. (SingTao Daily B11)
IPO: International Taifeng Holdings Limited is to launch its first IPO today to raise 577 million to 865 million yuan at a price of 2.06- 3.09 yuan per share. Entry fee is 6242.36 yuan per lot (2000 shares). (Hong Kong Economic Journal P2)
Legend Holdings Ltd. (992 HK), parent company of Lenovo Group Limited, plans to list in Hong Kong in five to seven years, according to CEO of Lenovo Group. In addition, its property business may also be listed to the Mainland stock market. (Hong Kong Economic Journal P4)
SMI Corporation Limited (198 HK) has acquired Australia-based Photon shares and it expects to start building a 3D producing base and a training school. (SingTao Daily B11)
Standard Chartered PLC (2888 HK) has completed a successful book-building process for its proposed listing of Indian Depository Receipts (“IDRs”), and has now closed the offer. The issue price per IDR will be INR 104. A total of 240 million IDRs will be issued producing gross proceeds of approximately INR 24.9 billion. The net proceeds receivable by the bank are approximately INR 24.6 billion. (SingTao Daily B11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
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