Business Digest, October 26, 2012

Britain exits recession as economy grows 1pc

Olympics spending fuelled Britain's strongest quarterly growth in five years, springboarding the country out of recession in the third quarter. Official data showed gross domestic product rose 1 per cent after shrinking 0.4 per cent in the second quarter. Reuters
 

Hontex shareholders urged to accept refund

The Securities and Futures Commission urged shareholders who have not yet accepted the refund of HK$1 billion raised in an initial public offering by suspended fabric maker Hontex International to submit their application before the deadline on Monday. The SFC said 53 per cent of shareholders had accepted the refund offer by Wednesday. Enoch Yiu
 

Coal miner eyes US$300m HK IPO

Chonghou Energy Resources, an Inner Mongolian-based coking coal miner, aims to raise about US$300 million in an initial public offering in Hong Kong as early as December. The firm operates four coal mines with an annual production of six million tonnes, industry data provider Mergermarket said. Ray Chan