BYD, Celestial, HSBC Holdings, Hysan: Hong Kong Stocks Preview
The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close.
The Hang Seng Index (HSI) fell 0.4 percent to 22,868.67 yesterday. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, declined 0.2 percent to 12,721.48.
BYD Co. (1211 HK): The Chinese maker of lithium batteries said it will issue the prospectus for its planned Shenzhen initial public offering on June 8 and hold preliminary price consultations with qualified institutions from June 9 to 16. Its shares fell 2.4 percent to HK$23.95.
Celestial Asia Securities Holdings Ltd. (1049) (1049 HK): The company is seeking to raise about HK$106 million by selling shares to at least six investors, according to a filing to the Hong Kong stock exchange. Celestial Asia is placing 208 million shares at 51 Hong Kong cents each, the statement said. Celestial’s shares, which are suspended, were unchanged at 55 Hong Kong cents.
HSBC Holdings Plc (5) (5 HK): Europe’s biggest bank agreed to pay $62.5 million to settle a group lawsuit in New York, filed by investors in a fund that lost money in Bernard Madoff’s fraud while the bank acted as custodian. The stock dipped 0.2 percent to HK$80.25.
Hysan Development Co. (14 HK): The biggest commercial landlord in Hong Kong’s Causeway Bay was raised to “outperform” from “neutral” at Credit Suisse Group AG after the brokerage increased its forecast for retail rents in Hong Kong this year. The brokerage lifted its share-price estimate to HK$46.20 from HK$37.70, analysts led by Cusson Leong wrote in a report. The stock gained 0.5 percent to HK$38.15.
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