Issue: December 09, 2006 (Archive)

Wednesday, September 8, 2010

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Chalco to buy out two Shanghai-listed firms
Aluminum Corporation of China (2600) said it will privatize two mainland-listed subsidiaries by offering as much as 8.17 billion yuan (HK$8 billion) for the shares it does not own in two Shanghai-listed units as part of a plan to trade its shares in Shanghai.

Cheung Kong airs support for status quo on land auctions
Cheung Kong (Holdings) (0001) has maintained its support for the government's present application list system for land auctions, saying any change back to regular land sales would result in volatility in land prices.

StanChart to raise US$750m
London-based Standard Chartered (2888) said Friday it plans to raise US$750 million (HK$5.85 billion) by offering 7,500 American Depositary Shares priced at US$100,000 apiece.

Now TV wins Euro 2008 exclusive rights in $400m deal
Pay-television service provider Now TV, a unit of PCCW (0008), has dealt another blow to rival i-Cable Communications (1097) by securing an exclusive license to broadcast the European Championship in 2008.

Bills sale to mop up liquidity
In order to curb possible overheating in the economy, the mainland's central bank announced Friday that it plans to sell 100 billion yuan (HK$99.2 billion) in designated bills to the big four state- owned banks for the fourth time this year, to dry up excess liquidity.

China shares drop on rate worries and profit-taking
China's shares fell about 3 percent Friday, following recent sharp gains.

Strongest debut since '97 as CCS soars 85pc
Market debutant China Communications Services (0552) soared 85 percent Friday - the biggest gain for a new listing since 1997 - on a day when blue chips headed south.

Benefits from ITU event likely beat expected $900m
Secretary for Commerce, Industry and Technology Joseph Wong Wing-ping said he believes the economic benefits derived from the five-day ITU Telecom World 2006 exceeded the government's predictions of HK$900 million.

Wang On plan for 1.1b yuan JV expansion
Hong Kong-listed Wang On Group (1222) said it plans to invest up to 1.1 billion yuan (HK$1.07 billion) to develop a joint-venture company in Guangxi to create an agricultural product wholesale distribution market.

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