China Economic ReviewThe Bank of China announced a planned US$1.2 billion 10-year fixed interest subordinated debt offering. The bonds will be offered on China's interbank market. The bank plans to raise up to US$7.2 billion of funds before its planned IPO next year.
HSBC Holdings, which last week confirmed it was negotiating to buy 19.9% of state-owned Bank of Communications, China's fifth largest bank, said it was not interested in acquiring stakes in any of China's big four state-owned banks. Hongkong and Shanghai Banking Corp Chairman David Eldon said HSBC had enough on its plate but might consider […]
Tianjin Capital Environmental Protection plans to apply for regulatory approval to offer US$144 million five-year A-share convertible bonds. The Tianjin government water resources investment organization would invest the proceeds from the offering in waste-water treatment assets and would build new water treatment facilities. Analysts said that Tianjin Capital Environmental Protection is acquiring assets as deregulation […]
China Life Insurance has applied for a qualified domestic institutional investor (QDII) license to invest in overseas securities, Shanghai Securities News reported.
Prices shot through the ceiling as the first eight stocks debuted on Day 1 of trading on Shenzhen's SME board, adrenalin pumping up one stock, Han's Laser Technology, 324.8%. Second board turnover on the first day climbed to RMB 3.5 billion, more than a quarter of the daily turnover generated by China's two established boards, […]