Glencore, Guangzhou R&F, ICBC, TCC: Hong Kong Stock 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.
Brightoil Petroleum Holdings Ltd. (933) (933 HK): The marine bunkering services company will change one of its principal accounting policies and restate its accounts for 2009 and 2010. Profit before tax will be changed to approximately HK$1.172 billion for 2010 and HK$312 million for 2009, the company said. The shares declined 0.6 percent to HK$3.12.
China Resources Cement Holdings Ltd. (1313) (1313 HK): The cement maker plans to acquire Inner Mongolia Cement Strategic Investment Holdings Ltd. for 1.6 billion yuan. China Resources Cement fell 1.8 percent to HK$7.21.
Chinese Estates Holdings Ltd. (127) (127 HK): The developer will sell its entire 62 percent stake in Chi Cheung Investment Co. (112 HK) to an unidentified independent third party for HK$836.2 million. Chinese Estates rose 1.7 percent to HK$13.38. Chi Cheung climbed 0.4 percent to HK$2.38.
Glencore International Plc (805 HK): The commodity trader expects to announce a dividend of $350 million on Aug. 25, the company said. The stock rose 2.4 percent to HK$61.20.
Guangzhou R&F Properties Co. (2777 HK): The property developer and KWG Property Holding Ltd. (1813) (1813 HK) provided guarantees for a HK$1.4 billion loan and a 1 billion yuan loan for two of their ventures, according to a joint-statement by Guangzhou R&F and KWG. Guangzhou R&F slipped 1 percent to HK$10.26. KWG increased 0.2 percent to HK$5.18.
Industrial & Commercial Bank of China (601398) Ltd. (1398 HK): The lender established a cross-border yuan settlement center in the southern Chinese city of Nanning for trade between China and the countries in the Association of Southeast Asian Nations, the official Xinhua News Agency reported yesterday, citing Vice President Wang Lili. The stock slid 0.7 percent to HK$5.82.
Skyworth Digital Holdings Ltd. (751) (751 HK): The television maker said profit fell to HK$1.17 billion in the year ended March 31, 2011, compared with HK$1.25 billion for the same period in 2010. The shares increased 4.1 percent to HK$4.29.
TCC International Holdings Ltd. (1136) (1136 HK): The cement maker plans to build a plant in China’s Guangdong province for 1.85 billion yuan ($286 million). The shares lost 2.8 percent to HK$4.21.
Tibet 5100 Water Resources Holdings Ltd. (1115 HK): The bottled water company raised a net HK$1.27 billion in its initial public offering, the company said. The offer price was set at HK$3 a share and the stock will start trading in Hong Kong today, the company said.
Xinjiang Goldwind Science & Technology Co. (2208 HK): The wind generator manufacturer said its board approved plans to sell as much as 5 billion yuan of bonds to fund working capital. The stock increased 1.8 percent to HK$8.50.
To contact the reporter on this story: Anna Kitanaka in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com.