China Shipbuilding Industry (601989.SH) plans to sell US$1.9 billion in shares to help fund its acquisition of seven affiliates, including makers of torpedoes and submarine telescopes, Bloomberg reported. Parent company China Shipbuilding Industry Corp and nine other institutional investors have agreed to buy a total of up to 1 billion new shares in the private […]
Category: Markets
Billionaire Li Ka-shing launched Hong Kong’s first renminbi-denominated real estate investment trust (REIT) on Sunday with a view to raising up to US$1.4 billion through an initial public offering, South China Morning Post reported. The Hui Xian REIT – scheduled to list on April 29 – will offer 2 billion units at a price of RMB5.2-5.58 […]
Investment banks are predicting a strong performance from Chinese stocks on the back of a fourth interest-rate hike in less than six months, Bloomberg reported. Credit Suisse (CS.NYSE, CSGN.SIX) boosted its 12-month forecast for the Hang Seng China Enterprises Index (HSCEI) to a gain of 28%, while HSBC (HBC.NYSE, HSBA.LSE, HSB.Euronext, 0005.HK), Macquarie (MQG.ASX) and […]
The number of Chinese companies listing domestically and overseas reached 105 in the first quarter of 2011, nearly double the international public offerings from all other nations combined, state media reported. According to Zero2IPO, a consultancy, in March alone 36 companies raised a total of US$7.3 billion, up 58.5% year-on-year. Private equity and venture capital […]
The US Securities and Exchange Commission (SEC) has launched a fraud investigation into Chinese companies that have listed in America via reverse mergers rather than full initial public offerings, the South China Morning Post reported. Since January 2007, over 150 Chinese firms have gone public by purchasing dormant, listed companies and injected their assets into […]