Mainland banking software developer Zhongtian International said it aims to raise as much as HK$121 million (US$15.5 million) through an initial public offering later this month on Hong Kong's main board. Zhongtian plans to sell 100 million H shares, equivalent to a quarter of its market cap � 15% constituting existing shares, 10% new shares.
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The Bill & Melinda Gates Foundation, a newly admitted member of China's Qualified Foreign Institutional Investor circle, was assigned a US$100 million quota to invest in China bonds and A-share equities. The green light was given by the mainland's foreign-exchange regulator. The US$27 billion foundation is the first non-bank to be be cleared for the […]
Citing the importance of Hong Kong's financial and legal infrastructure, China Beijing Equity Exchange said it planned to open a trading platform in the city within months to accelerate sale of state assets to foreign investors. Exchange President Xiong Yan said lack of disclosure rules made overseas fund-raising difficult for mainland enterprises. Opening up a […]
Liaoning Province Airport Management Group said it plans an initial public offering in Hong Kong in the first half of 2005 to raise over US$75 million to restructure three of the four airports it owns in province. The three currently run at a loss. Vice-general manager Ma Huixian said that, because it already was structured […]
Citic Securities, one of only two listed brokers on the mainland, said its board had approved a plan to begin negotiating merger with rival GF Securities, the seventh-largest brokerage in an industry ravaged by shrinking stock valuations and sales margins. Analysts quoted in media reports said that, unlike previous broker mergers, this one made sense […]