Ajiya, China Everbright, LG Chem, Telstra: Asia Ex-Japan Equity Preview
The following companies may have unusual price changes in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Ajiya Bhd. (AJY MK): The Malaysian building materials maker said profit in the third quarter ended Aug. 31 fell 38 percent from a year earlier to 4.64 million ringgit ($1.5 million) because of lower margins and sales. Ajiya added 0.5 percent to 2.05 ringgit.
China Everbright International Ltd. (257 HK): China Everbright’s shareholder NWS Financial Management Services Ltd. is selling a stake in the company, according to a term sheet sent to fund managers. NWS is selling 173.3 million China Everbright shares at HK$4.06 to HK$4.12 apiece, according to the document. China Everbright gained 2.4 percent to HK$4.26.
Hong Kong & China Gas Co. (3 HK): The piped-fuel supplier controlled by billionaire Lee Shau-kee is seeking as much as HK$735.9 million ($95 million) from a share sale, according to terms sent to investors. Some 38.45 million shares are being offered at HK$18.37-HK$19.14 apiece, the terms showed. Macquarie Group Ltd. is managing the transaction, according to the terms, which did not name the seller. The shares rose 1.3 percent to HK$19.14.
LG Chem Ltd. (051910 KS): South Korea’s biggest chemicals producer said third-quarter profit increased 11 percent to 599.1 billion won ($531 million) as prices for materials used to make automobiles and home appliances rose. The mean of nine analyst estimates compiled by Bloomberg News was for a profit of 603 billion won. LG Chem dropped 1.5 percent to 326,000 won.
Telstra Corp. Ltd. (TLS AU): Australia’s biggest telephone company plans to sell bonds in euros due March 2021, according to a person with knowledge of the sale. BNP Paribas SA, Deutsche Bank AG and HSBC Holdings are managing the deal. Telstra dropped 1.5 percent to A$2.65.
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