China National Pharmaceutical Group (Sinopharm) is planning an initial public offering in Hong Kong to raise up to US$750 million, possibly in the fourth quarter, while CITIC Pharmaceutical may pursue a US$200 million listing in New York next year, the South China Morning Post reported. Sinopharm, China’s largest pharmaceutical company, plans to spin off its […]
Category: Banking & Finance
The China Securities Regulatory Commission (CSRC) said in a statement that it was concerned about falling Chinese stock prices and that it would work to stabilize the market, Reuters reported. The Shanghai Composite Index reached a 19-month low on Thursday and is down 60% from the record high reached in October. The market has ben […]
China South Locomotive & Rolling Stock Corp raised US$532.6 million (HK$4.16 billion) from its initial public offering in Hong Kong after pricing its shares in the middle of an indicative range, the South China Morning Post reported. The mainland’s largest train maker sold 1.6 billion H shares at HK$2.60 (US$0.33) per share, from a range […]
Markets in China continued to fall Tuesday, taking the Shanghai Composite Index (SCI) down a cumulative 10% over three days, the South China Morning Post reported. The SCI dropped 0.52% to 2,457.198 points on unusually low turnover. In Shenzhen, A-shares fell 0.62%, to 727.904. Investors were reportedly concered about inflation and falling corporate profits, particularly […]
China’s stock market slipped to its lowest point in over a year on Friday as the Shanghai Composite Index (SCI) posted a single day loss of 4.5% to close at 2,605.72 points, the Wall Street Journal reported. The All Share index in Shenzhen fell 5.6% to 747.34, its lowest close since March 6, 2007. Property […]