China Everbright Bank (601818.SH) may raise around US$7 billion through a share sale in Hong Kong, Reuters reported. The plan, announced Monday, took many analysts by surprise, coming as it does only six months after the bank’s US$3 billion IPO in Shanghai. The move is seen as a response to the aggressive tightening of liquidity […]
Category: Markets
Renren.com plans to list in the US later this year, the Financial Times reported. The company is looking to raise about US$500 million in an offering to be underwritten by Deutsche Bank (DB.NYSE, DBK.FWB), among others. This would make the Chinese firm one of the first social networking sites that the public can invest into. […]
China Petroleum & Chemical Corp (Sinopec; SNP.NYSE, 600688.SH, 0338.HK), announced Wednesday that it plans to issue US$3.5 billion worth of convertible bonds, Dow Jones reported. The sale would constitute the largest convertible-bond issuance by any company in the Asia-Pacific region since August. Sinopec, Asia’s largest refiner by capacity, said that existing shareholders – but not […]
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China shares hit two-month high
The Shanghai Composite Index (SCI) hit a two-month high on Wednesday as concerns about monetary tightening eased, Dow Jones reported. The SCI gained 0.9% to close at 2,923.90 points, buoyed by strong performances from auto and steel manufacturers. The Shenzhen Composite Index closed up 1.7% at 1,283.26. The auto makers’ charge was led by CNHTC […]
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China offloads Japanese govt debt
Japan’s Ministry of Finance said China sold a net 177.3 billion yen (US$2.15 billion) worth of Japanese government bonds in December, Bloomberg reported. The exchange value of the yen and benchmark Japanese government debt both fell in November, and Beijing decided to take a profit by selling Japanese short-term notes. The yen dropped 3.9% against […]