BYD, China Unicom, Hidili, Zijin: Hong Kong Equities 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.
BYD Co. (1211 HK): The Chinese automaker part-owned by Warren Buffett’s Berkshire Hathaway Inc. will raise investments in a Shenzhen-based lithium battery-maker and a Tibet-based lithium miner following an A-share issue, the company said in statements to Shenzhen’s stock exchange. The shares gained 3.6 percent to HK$23.25.
China Unicom (Hong Kong) Ltd. (762 HK): France’s Alcatel- Lucent will help optimize the carrier’s 3G network in 10 provinces to meet rising demand for mobile broadband coverage in China, it said in an e-mailed statement. China Unicom, the nation’s second-largest mobile phone company by market value, fell 0.9 percent to HK$15.06.
Hidili Industry International Development Ltd. (1393) (1393 HK): The coal-mining company said second-quarter raw coal production dropped 31 percent to 735,000 metric tons from a year earlier. The stock slid 2.4 percent to HK$5.83.
North Mining Shares Co. (433 HK): The molybdenum miner said it plans to sell as much as HK$754 million ($96.7 million) of convertible notes to seven “potential subscribers.” The company has applied to resume trading today after being suspended yesterday, it said.
Zijin Mining Group Co. (2899 HK): A shareholder of Zijin, China’s biggest gold producer by market value, is selling 338.4 million shares to raise as much as $191 million, according to a term sheet obtained by Bloomberg News. The shares are being offered at HK$4.22 to HK$4.36 each, according to the term sheet, which didn’t disclose the name of the selling shareholder. The stock advanced 2.3 percent to HK$4.54.
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