Business Digest, February 2, 2013

PUBLISHED : Saturday, 02 February, 2013, 12:00am
UPDATED : Saturday, 02 February, 2013, 4:25am

Green light for 10 Shanghai IPOs

The China Securities Regulatory Commission approved 10 out of 177 applications for initial public offerings on the Shanghai Stock Exchange as of Thursday, according to a statement on the regulator's website. The stock market watchdog also approved 31 companies to sell shares for the first time on the main and smaller-company boards in Shenzhen this year. There are 364 companies applying to list in Shenzhen, the statement shows. Bloomberg


LME's only woman trader to join HKEx

Bethan Wilde, the only woman trader on the floor of the London Metal Exchange, was hired by Hong Kong Exchanges and Clearing as senior manager of business development and strategy. She will start in about a month, the Hong Kong market operator said. Wilde, 29, yesterday said she would move to Hong Kong. Bloomberg


Great Wall falls after CLSA cuts stock rating

Shares of Great Wall Motor, the maker of China's best-selling sport utility vehicle last year, fell the most in more than two weeks in Hong Kong yesterday after CLSA cut its rating on the stock. Great Wall declined 2.1 per cent to HK$30.90 after CLSA reduced its rating to sell from buy, with the stock price estimate lowered to HK$30.41 from HK$32.57. Among 37 analysts tracked, 20 recommend buying the share and six suggest selling. Bloomberg


Two sites could fetch up to HK$2.3b

The two residential sites in Tseung Kwan O and Tuen Mun that will be opened for tender next month by the Lands Department could fetch up to HK$2.3 billion, say property experts. The Tseung Kwan O site could generate about HK$4,000 per square foot while the Tuen Mun plot could get HK$3,500 per square foot. The tender for both lots will open on March 1 and close on April 5. Sandy Li