China Yangtze Power Co., Chongqing Iron & Steel Co.: China Equity Preview
The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the last close.
China Yangtze Power Co. (600900 CH): The power company signed an agreement with EuroSibEnergo Plc to set up a joint venture to develop hydro and thermal power projects in Siberia and the Russian Far East. The planned installed capacity is 10,000 megawatts, a portion of which will be exported to China, EuroSibEnergo said in an e-mailed statement. China Yangtze rose 0.4 percent to 7.69 yuan.
Chongqing Iron & Steel Co. (601005 CH): The steel producer said it had won approval from China’s securities regulator to issue 2 billion yuan of corporate bonds in China. Chongqing rose 0.5 percent to 3.95 yuan.
Anhui Gujing Distillery Co. (000596 CH): The Chinese liquor maker plans to raise as much as 1.3 billion yuan ($195.2 million) from a private placement of as many as 20 million shares, according to a statement to Shenzhen’s stock exchange. Anhui Gujing rose 10 percent to 90.75 yuan.
Shanghai Modern Pharmaceutical Co Ltd. (600420 CH): The pharmaceuticals company was rated a “strong buy” at Industrial Securities by equity analyst Xi Wang. Shanghai Modern rose 6 percent to 22.07 yuan.
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