Hong Kong-based China Power International Development raised US$320.6 million in an initial public offering to raise funds to triple its mainland generating capacity. The IPO saw the generator price its shares at a discount to rivals and sell a stake to Singapore's state-run investment company, Temasek Holdings. Between them, Temasek and Hong Kong's Henderson Property tycoon Lee Shau-kee committed to buy about 18% of the offer.

Hong Kong's Securities and Futures Commission was reported ready to accept a record HK$30 million settlement from investment bank ICEA rather than put it under a two-year suspension for its role in sponsoring collapsed Shenyang-based industrial orchid rancher Euro-Asia Agricultural (Holdings). According to the South China Morning Post, which reported the story, the penalty figure equals the bank's annual profit. Euro-Asia, which was fould wildly inflating earnings ahead of its planned IPO, is now in receivership

Shanghai-based job portal and publisher 51job Inc debuted on the Nasdaq with a strong opening share price of US$22.05, selling 5.25 million American depositary receipts (ADRs) to raise US$73.5 million, well up on the US$57.75-68.25 million it originally targeted. Its launch price was originally set at US$14.

China Development Bank sold US$600 million in 10-year bonds and another �325 million in five-year bonds, with both tranches ending up oversubscribed despite being priced up or near the high end of their indicative range. The US-dollar denominated tranche was priced at 98.152 with a coupon of 4.75% to providing a yield to maturity of 4.987%. The euro tranche, maturing in April 2010, carries a coupon of 3.875% and was priced at 99.974 to give a yield to maturity of 3.884%

CITIC Securities' plans to buy Guangfa (GF) Securities encountered a major setback with a joint move by two of GF's major shareholders to seize control of the securities house. Textile trading company Liaoning Chengda and Jilin Aodong Medicine Industry Group simultaneously announced plans Tuesday to increase their stake in GF to 27.3% and 27.14% respectively, the China Daily reported. That would give the two companies 54.44% of GF which, in addition to a 12.23% stake held by Shenzhen Jifu, a venture company formed by GF employees, makes CITIC's plan to gain control of GF unlikely to succeed, the paper quoted analysts as saying.