China Railway suffers first-quarter loss, bond sale prospectus shows

China Railway Corp suffered an after-tax loss of 6.88 billion yuan (HK$8.7 billion) in the first quarter. Photo: Bloomberg

China Railway Corp, the spin-off from the now-defunct Chinese Ministry of Railways, suffered an after-tax loss of 6.88 billion yuan (HK$8.7 billion) in the first quarter, compared with an after-tax profit of 196 million yuan for the whole of 2012, according to its first bond prospectus.

Friday, 10 January, 2014, 11:27am

SFC pushes for tighter rules on IPO sponsors

Ashley Alder says the proposed regulation changes will incentivise sponsors to raise standards.

The Securities and Futures Commission will propose making errant sponsors of initial public offerings criminally liable from October next year.

13 Dec 2012 - 4:52am

Like shops, IPO sponsors must be held liable for what they sell

Ashley Alder, Securities and Futures Commission. Photo: David Wong

If you splashed out on a new 55-inch television, got the thing home, unpacked it and found out that - contrary to what it said on the outside - the box contained only a 47-inch screen, you'd naturally feel you'd been ripped off.

13 Dec 2012 - 3:34am 3 comments

Investors fail to read prospectuses

The regulators have worked hard to improve corporate disclosure standards but it is a question whether small investors really care.

28 Aug 2012 - 3:38am

Ex-CEO charged with stock fraud

The former chief executive of a listed company has been charged with defrauding the stock exchange and authorising the issue of a prospectus containing an untrue statement.

Pau Kwok-ping, 54, was chief executive officer of Eco-Tek Holdings, a company founded by Lily Chiang Lai-lei, the first woman chairman of the Hong Kong General Chamber of Commerce.

1 Mar 2008 - 12:00am

Environmental group urges firms to cut prospectuses, reveal impact

A group has demanded that listing companies include environmental evaluations in prospectuses for their initial public offerings.

The call by Green Sense came as the group said paper used in listing prospectuses last year would entail the felling of more than 15,000 trees.

28 Dec 2007 - 12:00am

Glittering future

Models wear jewellery made by Noble Jewelry yesterday. The company plans to raise up to HK$117 million from a listing on the main board next month to help fund the construction of a factory in the mainland.

The company is offering 78 million shares at HK$1.08 to HK$1.50 each, according to its listing prospectus.

30 Mar 2007 - 12:00am

New rules to cut listing sponsors

Almost two-thirds of investment banks in the city will be banned from acting as listing sponsors because they are either unwilling or unable to meet stricter requirements being imposed from the beginning of next year, according to the Securities and Futures Commission.

16 Dec 2006 - 12:00am

University prospectuses chew up 6,300 trees, says green group

An area of forest about 15 times the size of the Hong Kong Stadium has been lost in order for tertiary education institutes to provide fancy pamphlets for new students, according to a green group's study.

28 Aug 2006 - 12:00am

Financial translation house needs an editor

Those who know an IPO from a prospectus - and say it in two languages - will do well in this position with one of the largest translation houses in Hong Kong.

The company, which specialises in financial and legal documents, is looking for a chief editor to lead a team of more than 20 translators and oversee the quality of output.

8 Apr 2006 - 12:00am

19 months' jail for plot to create false profits

A former company director who spent almost 16 years on the run was yesterday jailed for 19 months for orchestrating a scheme to create false profits in a bid to lure investors to his struggling company.

2 Mar 2006 - 12:00am

Nine Dragons draws $900m of margin finance orders

Listing candidate Nine Dragons Paper (Holdings) is a hot pick by retail investors who have lodged orders for at least $900 million in margin financing with local brokerages.

The orders were almost triple the retail-investor allocation of about $340 million - one-tenth of the international offer.

Brokers believe the book will still surge in the next two days.

21 Feb 2006 - 12:00am

Asia Printers readies main-board listing

Contract book-printing firm Asia Printers Group could see a heavier workload soon, as it may need to print its own listing prospectus.

The Hong Kong company hopes to amass up to US$50 million in an initial public offering on the main board before the end of the year, according to sources close to the deal.

21 Jul 2004 - 12:00am

Lai See

All in a day's labour

CSMC Technologies chief financial officer Frank Lai Ni-hium failed to deliver at the company's press briefing yesterday.

15 Jun 2004 - 12:00am

Lai See

read all about it

It looks like the Hong Kong Mortgage Corp is the latest convert to the Time magazine-style of information management - keep it simple and glossy, and the reading public will lap it up.

27 May 2004 - 12:00am