Active Group, Greentown, Suncorp: Hong Kong Equities 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.
Active Group Holdings Ltd. (1096 HK): The maker of men’s shoes expects net proceeds of HK$337.4 million from its initial public offering in Hong Kong after setting the price of the shares at HK$1.20 each, the company said. The shares debut in Hong Kong trading today.
China Resources Gas Group Ltd. (1193) (1193 HK): The Hong Kong- listed fuel operator was rated “buy” in new coverage by BNP Paribas SA. The target share price was set at HK$12.88. The stock gained 4.4 percent to HK$10.98.
Freeman Financial Corp. (279 HK): The investment company is in the final stages of talks for strategic investment that may involve new-share issue. The company was halted from trading yesterday and resumes trading today.
Greentown China Holdings Ltd. (3900) (3900 HK): The Chinese developer reduced its 2011 target to 40 billion yuan ($6.3 billion) from 55 billion yuan, Singtao Daily newspaper reported, without saying where it got the information. The stock fell 2 percent to HK$3.88.
Hutchison Whampoa Ltd. (13) (13 HK): The company’s Three unit said consultation for a planned U.K. spectrum auction faces further delay. The proposed plans for the auction may not be published until the end of this year or the beginning of 2012, David Dyson, the CEO of the U.K. unit, said. The stock gained 3.6 percent to HK$61.95.
Li & Fung Ltd. (494) (494 HK): The retailer’s Chief Executive Officer Bruce Rockowitz bought 2 million shares of the company at an average price of HK$12.485 each on Sept. 23, according to a disclosure filing to the Hong Kong stock exchange. The stock rallied 7.5 percent to HK$13.78.
Springland International Holdings Ltd. (1700) (1700 HK): The operator of retail stores and supermarkets in China received commitments from about 14 banks for a $150 million loan, a person familiar with the matter said. The shares climbed 1.2 percent to HK$5.02.
Suncorp Technologies Ltd. (2938 HK): The maker of telephones said it is scrapping a planned sale of stock to existing shareholders that aimed to raise HK$235.1 million ($30 million) because of market conditions. The stock surged 17 percent to 20.5 Hong Kong cents.
Sun Hung Kai Properties Ltd. (16) (16 HK): Company Chairman Kwong Siu Hing bought 931,000 shares of the company at HK$93.489 apiece on Sept. 23, according to a disclosure filing to the Hong Kong stock exchange. The shares increased 3 percent to HK$93.
Yanzhou Coal Mining Co. (1171 HK): The company said it plans to acquire two subsidiaries of Wesfarmers Ltd. for A$296.8 million ($294 million) to increase its reserves in Australia. The shares jumped 8.1 percent to HK$17.60.
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