Sources disclosed to IFR that Chinese waste management and energy company China Everbright International Ltd will be floating 430 million new shares to raise up to HKD3.75 billion or USD484 million.
China
Anbang stake acquisition in China Merchants fuel rumors insurer has no more interest in Wing Hang- report
The $2.1 billion stake acquisition of Anbang Insurance Group in China Merchants Bank Co has added to the speculation that the insurer is no longer interested in acquiring Hong Kong-based Wing Hang Bank Ltd.
Cinda raises $2.4 billion in Hong Kong IPO, prepares to buy distressed debts
China Cinda Asset Management Co, one of the country's state-owned bad bet managers, has raised $2.4 billion in its Hong Kong listing. Proceeds from the deal will be used to enhance its distressed asset management business.
Australia allows Chinese company to take over Yancoal
Australia's Federal Treasurer Joe Hockey has granted approval of the Chinese company Yanzhou Coal's takeover of Australian mining firm Yancoal Australia, just two weeks after he rejected a foreign buyout bid for GrainCorp.
HSBC exits minority stake in Bank of Shanghai to Spain's Santander
HSBC Holdings PLC has put up for sale its 8% stake in Bank of Shanghai Co. HSBC sold its holding in the Chinese bank to Spain's Santandar SA for an undisclosed sum.
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China sovereign investor Central Huijin Investment Ltd received approval the Shanghai Office of the People's Bank of China to trade on the interbank bond market, a Bloomberg report said.
WesTrac China Limited has reached an agreement to acquire the distribution and support businesses of Caterpillar Global Mining in a deal valued at around USD130 million.
Australia-based energy company Ambassador Oil and Gas Ltd has sold its 52.5% stake in South Australia's Cooper Basin, a potential gas field, to New Standard Energy Ltd for USD42.5 million.
The HKD 2.8 billion or USD 364 million investment that Alibaba will make in appliance maker Haier will enable China's leading ecommerce firm to enhance its logistics and distribution network.
China Everbright Bank Co Ltd's USD2.8 billion float on Tuesday follows the steps taken by peers Huishang Bank Corp Ltd (3698.HK) and Bank of Chongqing to prepare a financial buffer against bad loans in the near future, said a Reuters report.
Tightening monetary policy in China has been reduced due to the slowing yearly consumer inflation rate of 3% in November from 3.2% the month before, said a Reuters report.
A Bloomberg report noted that China's massive CNY2.6 trillion or USD427 billion corporate debt is due next year, indicating a possibility that the country could default on its payments for the first time.
China's biggest e-commerce firm, Alibaba Group Holdings, will be buying stakes in Haier Electronics Group and Qingdao Haier Logistics Co, according to a report by Bloomberg.
Chinese state-owned firms are expected to lead the initial public offerings in the mainland next year after the lifting of the temporary ban on public share sales by the government, according to sources interviews by Bloomberg.
