July 7 (Bloomberg) -- 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 gained 1.2 percent to 20,084.12. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, advanced 2.4 percent to 11,456.42.
Chaowei Power Holdings Ltd. (951 HK): The producer of lead acid batteries sold 250 million shares at HK$2.18 each, raising net proceeds of HK$474.8 million in an initial public offering, according to a statement. Trading starts today.
Industrial and Commercial Bank of China Ltd. (1398 HK): The world’s biggest lender by market value plans to raise as much as 45 billion yuan ($6.6 billion) in a rights offer, Ming Pao Daily News reported, citing unidentified people close to the deal. The stock climbed 1.6 percent to HK$5.67.
Sinoref Holdings Ltd. (1020 HK): The company, which makes molten steel flow control equipment, sold 390 million shares at 76 Hong Kong cents each, raising net proceeds of HK$195.3 million in an IPO, it said in a statement. Trading begins today.
Sinotrans Shipping Ltd. (368 HK): Morgan Stanley rated the stock “overweight” in its new coverage, saying the company is an “under-leveraged” dry bulk shipowner with “high long-term growth potential.” Sinotrans, the dry-bulk arm of China’s third-largest shipping group, rose 1.3 percent to HK$3.02.
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