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  • August 31, 2014
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  1. Ping An takes control of SDB for 29b yuan

    Posted Sep 03rd 2010, 12:00am by Charlotte So

    ... (SDB) in a 29.1 billion yuan (HK$33.2 billion) deal, which will help it strengthen its banking network on the mainland. The deal, which will increase Ping An's stake in SDB to 52 per cent ... yuan in cash and a 90.75 per cent stake in Ping An Bank in exchange for 1.639 billion new shares in Shenzhen-listed SDB. The deal values the Shenzhen lender at 1.9 times its 2010 book value, ...

  2. FAW Car invests 1.79b yuan to revive struggling Red Flag brand

    Posted Aug 27th 2010, 12:00am by Staff Reporter

    ... Neil Gough State-owned FAW Car is betting 1.79 billion yuan (HK$2.04 billion) that it can raise high the Red Flag once again. The Changchun-based carmaker said yesterday it is investing ... completion of the plant, which will build a yet-to-be unveiled 'public servant car' identified only as the C131, is set for 2012. The new Red Flag factory is part of a 3.05 billion yuan ...

  3. First yuan funds likely this year, official says

    Posted Jul 09th 2010, 12:00am by Enoch Yiu

    ... Enoch Yiu Securities and Futures Commission chief executive Martin Wheatley expects Hong Kong's first yuan investment products to be launched this year, moving the city a step closer to its goal of becoming an international offshore yuan trading centre. Wheatley declined to confirm whether the SFC had already received a yuan investment product application. 'The SFC ...

  4. Investors commit 2.6b yuan to Red Star

    Posted Jun 22nd 2010, 12:00am by Staff Reporter

    ... Daniel Ren in Shanghai Red Star Furniture Group, one of the country's largest home improvement chain-store operators, raised 2.6 billion yuan (HK$2.96 billion) from a clutch ... Star's listing. The company had planned to raise at least one billion yuan in either Shanghai or Hong Kong by next year. Red Star operates 66 outlets across the mainland and aims to reach 200 ...

  5. Taizinai collapses with debts of 3b yuan

    Posted Apr 14th 2010, 12:00am by Naomi Rovnick

    ... owing lenders three billion yuan (HK$3.41 billion). Taizinai, which is best known for its probiotic yoghurt drinks, has been struggling since at least 2008, two people with knowledge ... are on the mainland and its borrowings are in yuan. Its Cayman-based holding company is legally responsible for the yuan debts. The liquidation is likely to be drawn out and messy, people involved ...

  6. China Southern gets 1.5b yuan in state aid

    Posted Feb 24th 2010, 12:00am by Charlotte So

    ... Charlotte So China Southern Airlines, the region's largest airline by fleet size, will issue 1.5 billion yuan (HK$1.71 billion) worth of new shares to its parent China Southern Air ... it would receive 1.5 billion yuan government aid, the second bailout from Beijing after a three billion yuan capital injection from its parent last year. 'On top of the government aid, we ...

  7. CUCBM in talks with potential investors to raise up to 20b yuan

    Posted Nov 21st 2009, 12:00am by Eric Ng

    ... to 20 billion yuan (HK$22.70 billion) in the next two to three years. The Beijing-based firm is in talks with would-be strategic investors, chairman Sun Maoyuan told the South China Morning ... investors. Set up in 1996 as China's sole state-owned coalbed methane (CBM) developer with registered capital of 100 million yuan, the company enjoys exclusive rights to form CBM joint ventures ...

  8. Dalian Port eyes 2.8b yuan in Shanghai initial share sale

    Posted Oct 17th 2009, 12:00am by Kandy Wong

    ... Kandy Wong Dalian Port plans to raise 2.8 billion yuan (HK$3.18 billion) from the Shanghai stock exchange by next April, using the money for expansion, the company's top executive ... to three billion yuan annually in the coming three years, up from the previous two billion yuan a year. PDA, operator of the nation's third-largest port by assets, wants to take a leading role ...

  9. CNOOC secures 45b yuan nod for Huizhou project

    Posted Feb 23rd 2009, 12:00am by Eric Ng

    ... Eric Ng China National Offshore Oil Corp, the mainland's third-largest oil producer, has won approval to spend 45 billion yuan (HK$51.12 billion) to expand its only refinery ... the official. 'Given the decline in raw material prices, we can expect to reap substantial savings and complete the project below the 45 billion yuan budget.' Beijing last week unveiled broad ...

  10. Everbright Bank seeks 11.4b yuan from placement

    Posted Jul 23rd 2009, 12:00am by Staff Reporter

    ... Jane Cai in Beijing China Everbright Bank, the country's 11th-largest lender, plans to raise 11.4 billion yuan (HK$12.93 billion) in a private share placement before seeking an A-share initial public offering. The bank said yesterday it planned to sell 5.2 billion shares at 2.20 yuan each to institutional investors including Shanghai Chengtou Holding and Guangdong ...




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