The following bids, mergers, acquisitions and disposals were reported on Tuesday. Top Russian oil firm Rosneft said it would sell about $6 billion worth of refined products to BP, establishing the British major among its biggest buyers after years without any such deal.
China
Go Launcher maker Sungy Mobile nabs USD20 million before planned IPO
Two weeks after filing for an initial public offering, Go Launcher's parent company Sungy Mobile raised USD20 million in investment from Chinese antivirus software company Qihoo360 and Kingsoft.
Canadian Solar toys with idea of a power plant unit spin-off to reduce capital costs
Although it has plans to spin off its power plants, Canadian Solar Inc otherwise had a best-performing third quarter after incurring losses successively in its last eight quarters.
Third Plenum Communique creates hope, fosters disappointment in market
Amid the run up to the Third Plenum, many market investors who have waited for the policy direction from the Chinese government had made them either hopeful or disappointed with the communique released by President Xi Jinping.
Petrochina enters USD2.6 billion agreement to acquire Peru assets of Petrobas
PetroChina's acquisition of Lots 57, 58 and X would help the state-backed oil and gas company diversify its assets abroad, said one analyst.
Latest News
Yododo, the largest online travel community in China, raised USD4 million in Series A funding for the expansion and improvement of its products and services.
The People's Bank of China had undertaken a program of lowering money supply to avoid further inflation, but this may lead to lack of financial support
In a recent statement, the State-owned Assets Supervision and Administration Commission or SASAC had welcomed the move to allow the private sector to purchase interests in state owned or controlled corporations.
Many analysts say the lack of transparency may put the free trade zone experiment in China in jeopardy, unless it is confirmed as one of the economic priorities of the Third Plenum of the Chinese Communist Party.
Several industry observers believed that Alibaba's upcoming IPO on November 15 would not be eclipsed by the media frenzy of Twitter Inc's recent public listing.
Private equity firm Hopu Investment Management Co. raised a new fund with USD 1.1 billion under management. Hopy re-entered the investment business after a two-year lull.
A recent survey conducted by Hong Kong company ChinaQFII indicated foreign investor preference in industries that would mostly deliver a return of equity with minimal risk.
Yashili closed at HKD4.45 per share, the highest since its IPO in 2010, after investors agreed to buy company shares.
President Xi Jinping and other Communist leaders to meet up for the third plenum of China. As the final quarter of 2013 comes around, China's economy has undergone an acceleration in manufacturing and exports creating momentum for the Beijing leadership to be confident on possible policy shifts to be implemented for the next decade.
