Alibaba, L'Occitane International, Zijin Mining: Hong Kong Equity 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 slid 0.6 percent to 20,733.49. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, declined 0.7 percent to 11,935.95.
Alibaba.com Ltd. (1688 HK): The Chinese e-commerce company for small businesses agreed to buy Vendio Services Inc., a U.S. e-commerce company. Terms of the deal for closely-held Vendio, expected to close next month, weren’t disclosed. Mike Effle, chief operating officer of San Mateo, California-based Vendio, will become chief executive officer of the business, Alibaba said. Alibaba gained 1 percent to HK$16.30.
L’Occitane International SA (973 HK): The first French company to hold an initial public offering in Hong Kong said profit in the fiscal year ended March 31 rose 40 percent to 81.6 million euros ($100.5 million). The stock was unchanged at HK$17.08.
Zijin Mining Group Co. (2899 HK): China’s largest gold producer canceled its A$545 million ($472 million) purchase of Indophil Resources NL after a Philippine province where the Australian company operates banned open-pit mining. Zijin said it abandoned the agreement due to “uncertainties” over the deal, without elaborating. The stock fell 1.7 percent to HK$5.96.