Citic Group

Citic Resources raises US$1b in bond market

Citic Resources Holdings, the listed resources unit of state-owned Citic Group, raised US$1 billion in a bond sale that featured the tightest pricing of any mainland high-yield deal, highlighting the demand for exposure to China.

Wednesday, 16 May, 2007, 12:00am


Today Result: Big Media Group, Star Cruises

1st Quarter: CCID Consulting, Century Sunshine Ecological Technology Holdings, Chinasoft International, CIG Yangtze Ports, G.A. Holdings, Inspur International, Jian ePayment Systems, Sanmenxia Tianyuan Aluminum, Wafer Systems, Zheda Lande Scitech

15 May 2007 - 12:00am

Citic Resources leaps 13.85pc on Kazakh deal

Updated at 7.08pm: Shares of Citic Resources Holdings, the resources flagship of one of China's largest conglomerates China International Trust & Investment Corp (Citic Group), jumped 13.85 per cent to a record high after it announced US$1.15 billion (HK$9 billion) worth of oil and gas asset acquisitions.

9 May 2007 - 12:00am

Citic Resources to sell US$1b bond

Citic Resources plans to raise as much as US$1 billion from selling seven-year bonds to fund its acquisition of Kazakhstan oil and gas assets from its parent, state-owned conglomerate Citic Group, market sources said.

'It's worthwhile for the company to finish the acquisition, and it won't be very difficult to sell the bonds,' said an analyst who requested anonymity.

9 May 2007 - 12:00am

Bid to buy out AsiaSat seen by US as resale of restricted technology

The United States Department of State vetoed the joint HK$2.3 billion privatisation bid from state-owned Citic Group and a unit of General Electric for Asia Satellite Telecommunications Holdings because it was considered a resale of restricted technology, AsiaSat's chief executive disclosed yesterday.

1 May 2007 - 12:00am

CMOC, Citic Bank investors forecast to reap good gains

Stocks trade strongly in grey market

Investors in market newcomers China Molybdenum Co (CMOC) and China Citic Bank Corp are looking to reap considerable gains from the stocks' trading debuts, based on grey market prices.

26 Apr 2007 - 12:00am

Citic Bank IPO sees strong demand

China Citic Bank Corp drew heavy demand in Hong Kong for its US$5.4 billion initial public offering when it started taking retail orders yesterday, as its scaled-back price range is expected to allow investors to reap a quick profit on the trading debut.

17 Apr 2007 - 12:00am

Citic Bank begins share sale

China Citic Bank Corp, the mainland's eighth-largest bank by assets, opens the retail tranche today in Hong Kong for its US$5.4 billion initial public offering with a narrower price range than originally planned.

16 Apr 2007 - 12:00am

Tycoons missing out as Citic Bank picks investors

China Citic Bank, the eighth-largest lender in the mainland, has brought in four cornerstone investors for its up to US$5.6 billion dual offering in Hong Kong and Shanghai later this month, according to its preliminary listing prospectus.

11 Apr 2007 - 12:00am

Slower earnings growth expected for local banks

Hong Kong lenders, which enjoyed fast earnings growth last year, were likely to see growth slow this year amid the volatile stock market and potential tightening in interest-rate spreads, analysts said.

10 Apr 2007 - 12:00am

Citic Guoan mulls plant expansion

Citic Guoan Information, a Shenzhen-listed mainland cable television operator, plans to invest more than four billion yuan to expand its chemical project at a salt lake in Qinghai province.

Citic Guoan said it would be spending 2.17 billion yuan to increase its potassium fertiliser production by 700,000 tonnes a year at its project in western Taiji'nai'er Lake.

7 Apr 2007 - 12:00am

Business Digest

Commercial banks told to fulfil capital adequacy ratio obligation

China will push all city commercial banks to fulfil the mandated capital adequacy ratio of 8 per cent by the end of next year to improve their financial strength, the nation's banking regulator said.

2 Apr 2007 - 12:00am

Heads Up

Crude remains king as Gulf stand-off keeps world on edge

Oil is likely to be king for another week. Crude prices pulled back slightly on Friday, but they remain near six-month highs at about US$66 a barrel in New York.

2 Apr 2007 - 12:00am

Citic Bank to price IPO at the top end of range

China Citic Bank, a mainland lender aiming to raise US$5 billion from a simultaneous listing in Hong Kong and Shanghai, may price its shares at the top end of its sponsors' valuation, market sources said.

30 Mar 2007 - 12:00am

Citic 1616, Ajisen aim for top prices

Listing candidates Citic 1616 Holdings and Ajisen (China) Holdings are likely to set their initial public offering prices at the top end of the indicative range amid strong demand.

Citic 1616, the telecommunications unit of conglomerate Citic Pacific, had received orders for more than 600 times the shares available to retail investors, sources said.

28 Mar 2007 - 12:00am