Business Digest, March 7, 2013

PUBLISHED : Thursday, 07 March, 2013, 12:00am
UPDATED : Thursday, 07 March, 2013, 6:12am


First high-yield yuan bond fund launched

BOCHK Asset Management launched yesterday the first high-yield yuan bond fund authorised by the Hong Kong Securities and Futures Commission. At least 70 per cent of its net asset value will be in yuan-denominated and yuan-settled investments. Kanis Li


Haitong rights issue taps market for funds

Haitong International Securities seeks to raise net proceeds of between HK$1.15 billion and HK$1.19 billion from a rights issue. The firm plans to issue between 457.67 million and 471.52 million rights shares at HK$2.55 per rights share, on the basis of one rights share for every two existing shares. Toh Han Shih


Oilfield services firm jumps 26.8pc on debut

Shenzhen-based Termbray Petro-King Oilfield Services closed at HK$4.16 on its first day of trading yesterday, 26.8 per cent higher than its initial public offering price of HK$3.28. Eric Ng


SCMP Group aims for trading resumption

SCMP Group, which publishes the South China Morning Post, said it is "in the process of identifying the most appropriate course of actions to be adopted with a view to securing a trading resumption as soon as practicable". Trading in its shares has been halted since February 26, after the public float fell below the 25 per cent minimum required. Sophie Yu