Hanny, PetroChina, SJM, Zijin Mining: Hong Kong Stocks 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.
China Shipping Development Co. (1138 HK): The dry-bulk arm of China’s second-biggest sea-cargo group said it will issue 3.95 billion yuan ($598 million) of convertible bonds to pay for ships already on order. The company said it has applied to resume trading today after being suspended yesterday. The stock last traded at HK$9.47.
Hanny Holdings Ltd. (275 HK): The company, which trades securities and develops property, said it will combine every 10 shares into one share, and then seek to raise as much as HK$304.5 million ($39 million) in a rights offer of eight new shares at 30 Hong Kong cents each for every consolidated share held. The company said it has applied to resume trading today after being suspended on Jan. 28.
SJM Holdings Ltd. (880 HK): Billionaire Stanley Ho was admitted to hospital, Cable TV said, after his lawyer and family issued conflicting statements on whether he’s pursuing a lawsuit to regain a stake in Asia’s biggest casino company. SJM, which runs casinos in Macau, slid 3 percent to HK$13.06.
PetroChina Co. (857 HK): Ineos Group Holdings Plc said it sold a 50 percent stake in its European oil-refining operation to PetroChina for $1.02 billion. PetroChina, the nation’s biggest oil producer, increased 3.1 percent to HK$10.82.
Tsingtao Brewery Co. (168 HK): The Chinese brewer said the company and shareholder Asahi Breweries Ltd. of Japan and its China unit entered two product sales agreements, setting new annual caps on their dealings. Tsingtao Brewery declined 2.7 percent to HK$35.80.
Zijin Mining Group Co. (2899 HK): China’s biggest gold producer was fined 30 million yuan for the July waste spills at its Zijinshan gold and copper mine by a Fujian provincial court, according to a company filing to Shanghai’s stock exchange. The stock gained 0.3 percent to HK$6.16.
Wheelock & Co. (20 HK): The developer said its unit Wharf Holdings Ltd. (4 HK) won a land auction in China’s Changsha city with a 5.64 billion yuan bid. Wheelock declined 2.5 percent to HK$31.60. Wharf slid 3 percent to HK$58.90.
To contact the editor responsible for this story: Nicolas Johnson at email@example.com.