New World taps market for HK$18.6b to buy out China unit

New World China Land has commercial and residential projects in Shanghai, Wuhan, Beijing and Haikou. Photos: SCMP

New World Development, the city's fifth-largest developer by market value, yesterday announced it would make an HK$18.6 billion rights issue to take its mainland property arm New World China Land private.

Thursday, 7 May, 2015, 5:06pm

Sinopec stake sale signals move to privatise state-owned enterprises

Sinopec's stake sale could be a harbinger for further privatisation of China's SOEs. Photo: Reuters

The mainland's decision to sell a stake in a subsidiary of Sinopec signals more privatisation of its bloated state-owned sector will take place soon, with plans likely to be discussed at this week's parliamentary session, officials and experts said.

5 Mar 2014 - 1:12am

New Oriental comments fuel privatisation talk

Recent remarks by New Oriental's CEO and rumours of buyout talks mean the company could launch a privatisation bid by the end of this year

18 Jun 2013 - 11:35am

Tycoon fails again to take Guoco private

Quek Leng Chan

Malaysian tycoon Quek Leng Chan has failed in his latest attempt to take Guoco Group private, despite increasing the offer for the rest of the company to HK$9.37 billion.

31 May 2013 - 4:41am

China's ailing economy needs a dose of Thatcherism with Chinese characteristics

Chinese leader Deng Xiaoping, left, meets with then British prime Minister Margaret Thatcher in Beijing in this September 24, 1982 file photo. Photo: AP

As the world mourned the passing of former British prime minister Margaret Thatcher, remembered her belief in small government, free enterprise and monetarism, and her contribution to world prosperity, we should look at what today's China can learn from her legacy.

29 Apr 2013 - 1:07pm 1 comment

New Oriental: privatisation bid on tap?

I have to extend my sympathies to education services provider New Oriental, which seems unable to earn any respect from US investors these days.

25 Apr 2013 - 12:46pm

Quek increases Guoco takeover offer to HK$9.4b

Quek Leng Chan. Photo: Bloomberg

Trading in the shares of Guoco, a Hong Kong investment firm controlled and chaired by Quek, was suspended yesterday morning pending an announcement. The company announced the 13.6 per cent higher offer from HK$88 last night.

24 Apr 2013 - 5:38am

E-House looking to privatise?

Today's headlines include a couple of new developments in the recent privatisation wave for US-listed China firms, underscoring the difficulty of doing such deals that often require big fund raising. 

26 Mar 2013 - 12:27pm

Simcere to de-list, Vipshop adds shares

A week after shares of Internet portal Sohu went on a roller coaster ride on rumours of a de-listing plan that the company later denied, we're getting word that drug maker Simcere Pharmaceutical is launching the latest privatisation plan by a US-listed Chinese firm.

12 Mar 2013 - 1:11pm

'Undervalued' mulls plan to quit Nasdaq

A employee walks past the logo of 2008 Beijing Olympic games and in Beijing, 23 October 2007. Photo: AFP

Chinese internet giant is talking to investors for funds to take company private, joining a list of Chinese firms to exit from what they see as an unfriendly US market. Four financial industry sources told the South China Morning Post yesterday that Sohu had recently talked to several banks, including Credit Suisse, to advise the Beijing-based company on a possible privatisation plan.

6 Mar 2013 - 10:44am

7 Days privatisation moves ahead, Focus Media sputters

Two major privatisation plans of US-listed Chinese companies appear to be moving in different directions.

1 Mar 2013 - 2:33pm

For whom the Dell tolls

Michael Dell, chairman and chief executive officer of Dell. Photo: Bloomberg

Michael Dell, the reclusive founder of Dell, the world's third-largest PC maker, is controversially trying to privatise his company, and will take on a US$16 billion debt to do so.

18 Feb 2013 - 4:13am

Guoco Group shares jump 30 per cent on privatisation

Quek Leng Chan, chairman of Hong Leong and Guoco

Guoco Group's share price jumped 30.6 per cent to HK$92.05 yesterday, the highest level in over 15 months, after the Hong Kong-listed firm announced its privatisation.

Trading was heavy, with 4.49 million shares changing hands.

13 Dec 2012 - 5:01am

Focus Media's privatisation bid hits speed bumps

China's rapidly weakening advertising market may be undermining Focus Media's ongoing privatisation bid, with word that one of the companies underwriting the buyout may have backed out of the deal.

10 Dec 2012 - 11:44am

Chamber gives firm voice for listed companies

Lo Ka-shui says the chamber does not want confrontations over reforms but consensus with the regulator. Photo: K.Y. Cheng

Formed 10 years ago, the Chamber of Hong Kong Listed Companies has established itself as the voice of the city's listed firms.

Chamber chairman Lo Ka-shui, who is also the chairman of Great Eagle, said the organisation had more than 200 members, representing about 40 per cent of the total market capitalisation.

23 Nov 2012 - 1:40am