Making its first debt offer to global investors, the Hong Kong government said it would begin selling US and Hong Kong dollar-denominated bonds worth a total of US$2.6 billion. The effort, backed by principal underwriters Bank of China group, HSBC Holdings and Merrill Lynch, will start with conference calls with investors in Hong Kong and […]
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D'long fall impacts Bocom
Shanghai-based Bank of Communications (Bocom) employees and clients staged sit-ins at the bank's headquarters to protest US$10.3 million worth of defaulted trust units sold by the bank, according to a South China Morning Post report. Last year, Xinjiang Uighur Autonomous Region-based Jinsin Trust, a unit of the D�long investment group, sold 200 trust units with […]
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Banks form alliance
Leverging its extensive mainland network, Hong Kong-based Bank of East Asia formed a partnership with France-based Credit Industriel et Commercial (CIC) to expand its European business operations. It was the third such deal the bank has formed with European banks recently. It has alliances with Spain-based Banco Popular Espa�ol and Italy-based UniCredito Italiano. Bank of […]
Shares in mainland-based Tungda Innovative Lighting Holdings lost 44% of their value in daily trading on Hong Kong's second board after the company delayed release of its financial results a fourth time. The share price of the Growth Enterprise Market-listed company, recently cited for breaching market rules, plummeted 74% at one point, to 7.5 Hong […]
Guangxi-based Guangxi Fangyuan Power plans to raise more than US$120 million to expand generating capacity through a flotation in Hong Kong, state media reported. The Guangxi Zhuang Autonomous Region government said plans were still at an early stage. Guangxi Fangyuan, 98%-owned by government-owned Guangxi Investment (Group), will reportedly float 25% of the company. Part of […]