AIA, China Telecom, Orix, Tepco: Asian Stocks Preview
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
AIA Group Ltd. (1299) (1299 HK): The insurer and Metlife Inc. are among companies that made offers for ING Groep NV’s Asian life insurance business, people familiar with the matter said. AIA rose 0.6 percent to HK$26.
China Telecom Corp. (728) (728 HK): The fixed-line carrier said it added 2 million subscribers for its third-generation wireless service in April. Fixed-line users fell by about 430,000 last month, it said. The stock lost 1.1 percent to HK$3.60.
AnGes MG Inc. (4563) (4563 JT): The developer of gene therapies said it will raise 198.5 million yen ($2.5 million) by selling new shares to Shionogi & Co. (4507 JT), a pharmaceutical company. AnGes rose 1.5 percent to 28,050 yen. Shionogi added 0.4 percent to 1,002 yen.
Daiichikosho Co. (7458 JQ): The karaoke equipment manufacturer said it will spend as much as 1.1 billion yen to buy back up to 0.96 percent of its shares. The stock advanced 1 percent to 1,469 yen.
Dydo Drinco Inc. (2590) (2590 JT): The beverage company returned to profit with a 447 million yen gain in the quarter ended April 20, compared with a 524 million yen loss a year earlier. Also, Dydo will pay 11 billion yen to acquire all shares of closely held jelly maker Tarami Corp., according to statement. Dydo was unchanged at 3,230 yen.
Endo Lighting Corp. (6932) (6932 JO): The maker of lighting equipment will raise up to 5 billion yen from the sale of shares and convertible bonds to Urban Co., its largest shareholder, according to a filing with Japan’s Finance Ministry. Endo gained 3.4 percent to 2,562 yen.
Kingfisher Airlines Ltd. (KAIR) : The Indian carrier is yet to pay 150 million rupees of tax dues in April, S.K. Goel, chairman of Central Board of Excise & Customs, said in New Delhi. Shares added 0.4 percent to 13 rupees.
KCM Corp. (1702) (1702 JN), Noritake Co. (5331 JT): Noritake, a maker of tableware, will pay 1.75 shares for each of KCM’s to buy out the manufacturer of ceramic raw materials, according to a joint statement. KCM will be delisted from the Nagoya stock exchange on July 27. KCM climbed 1.9 percent to 275 yen. Noritake was unchanged at 205 yen.
Nidec Tosok Corp. (7728 JT): The precision machinery maker said it will buy back up to 2.6 percent of its outstanding shares. The stock advanced 0.9 percent to 650 yen.
Orix Corp. (8591) (8591 JT): The financial service provider’s credit rating was cut to Baa2 from A3 by Moody’s Japan K.K., citing risks associated with the company’s funding model. The stock slipped 0.9 percent to 6,910 yen.
Tokyo Electric Power Co. (9501 JT): Japan’s government may own as much as 75.84 percent of Tokyo Electric Power Co., owner of the crippled Fukushima nuclear plant, after converting all shares to be awarded under a 1 trillion yen bailout plan. The utility will issue 1.6 billion shares with voting rights and 340 million convertible shares without voting rights, the company also known as Tepco said in a statement. The stock increased 3.2 percent to 162 yen.
Tokyo Gas Co. (9531 JT): Japan’s biggest distributor of the fuel said it will retire 0.49 percent of its outstanding shares on June 6. The stock was unchanged at 374 yen.
Yamada Denki Co. (9831 JT): AllianceBernstein Holding LP (AB US) and two others now hold a combined 5.25 percent stake in the electronics retailer, according to a filling with Japan’s Finance Ministry. Yamada Denki slid 1.1 percent to 4,085 yen.
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