Rights Issue | South China Morning Post
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  • Mar 5, 2015
  • Updated: 11:11am

Rights Issue

PICC to lift capital with 5.8b yuan rights issue

PICC on Monday said it planned to raise 5.8 billion yuan in the rights issue of 930 million A shares at 4.30 yuan apiece and 418 million H shares in Hong Kong at HK$5.38 each, which would be a 47.25 per cent discount on its Monday closing price. Photo: Bloomberg

A planned rights issue would help PICC Property and Casualty, the mainland's biggest non-life insurer, to record faster premium growth and business expansion, analysts said.

Wednesday, 22 May, 2013, 3:20am

Sinopec's share issuance puts faithful investors at disadvantage

Sinopec offered to sell HK$24 billion worth of new shares to a handful of privileged investors at a steep discount. Photo: Bloomberg

Shareholders' rights and interests often take a back seat in Hong Kong. And so it proved to be again when state-owned oil giant Sinopec shocked the market by offering to sell HK$24 billion worth of new shares to a handful of privileged investors at a steep discount.

17 Feb 2013 - 1:59am 2 comments

Fund raising bid by Esprit gets a cool reception

The stores are undergoing a change of image.

Esprit Holdings fell nearly 17 per cent to a two-month low yesterday, reflecting investor concern about the company's financial situation.

25 Oct 2012 - 5:07am

Shun Tak issue puts focus on odd lots

Shun Tak Holdings' rights issue has highlighted the loophole that allows holders of odd-lot shares to benefit from highly discounted issues. Odd lots are those that have less than the number of shares in a normal lot.

12 Mar 2012 - 12:00am

Shun Tak falls on news of HK$1.95b fund-raising

Shares in Shun Tak fell 6.7 per cent yesterday as investors reacted coolly to the company's plan to raise up to HK$1.95 billion in a rights offering.

The ferry operator and property developer controlled by the family of casino magnate Stanley Ho Hung-sun said it will offer three new rights shares for every eight ordinary shares currently held.

21 Jan 2012 - 12:00am

New World stocks tumble on discount rights issue

Shares of tycoon Cheng Yu-tung's New World Development (NWD) and its mainland unit plunged yesterday after the companies announced plans to sell shares at steep discounts.

19 Oct 2011 - 12:00am

Wharf taps market for HK$10b

Wharf (Holdings) intends to raise HK$10.05 billion through a rights issue to finance its property investments on the mainland as part of a long-term strategy. The company said in a filing to the stock exchange yesterday it would issue 275.39 million rights shares at HK$36.50 each on a one-for-10 basis.

11 Feb 2011 - 12:00am

Cash for HSBC investors who took no action

HSBC Holdings shareholders who did not take any action on the bank's rights issue could receive about HK$3,700 on each board lot they owned, sources said yesterday.

7 Apr 2009 - 12:00am

ESun seeks to raise HK$1b from rights issue

ESun Holdings, which is controlled by Lai Sun Development, plans to raise about HK$1.03 billion from a rights issue to fund its Macao Studio City project. The company will issue between 413.58 million and 414.51 million rights shares at a subscription price of HK$2.50 each on the basis of one rights share for every two existing eSun shares held by qualified shareholders.

8 Mar 2008 - 12:00am

Shares in GZI Transport slide on news of rights offer

Proceeds to fund acquisition of expressway, bridge projects

Shares of toll-road operator GZI Transport slumped as much as 7.7 per cent yesterday after it said it planned to raise HK$2.19 billion in a rights issue for potential acquisitions of expressway and bridge projects in Guangdong province.

30 Jun 2007 - 12:00am

Angang revives dual bid for issue of rights shares

Angang Steel, the mainland's third-largest steel producer by output, saw its share price fall as much as 3.18 per cent after it unveiled a second attempt to launch the first dual A and H-share rights issue to raise more than HK$20 billion.

12 Apr 2007 - 12:00am

JCG shares tumble on rights issue concerns

Shares of JCG Holdings, which has agreed to buy Asia Commercial Bank and proposed to finance part of the acquisition through a rights issue, fell by as much as 15.82 per cent to a six-month low yesterday after resuming trading following suspension on Wednesday.

21 Feb 2006 - 12:00am

NWD may have to take all of unit's $6.3b rights

New World Development may end up paying $6.31 billion to underwrite a rights issue by its mainland property arm, New World China, as NWC's plunging share price is dampening shareholders' interest in the issue, analysts say.

NWC shareholders have until this Friday to accept the rights offer, under which they can buy three rights shares for every two shares they hold.

4 Apr 2005 - 12:00am

In Brief

cash financial services back in the black

7 Aug 2004 - 12:00am

E-Kong chief doubles his holding for $9m

E-Kong Group chairman Rick Siemens has doubled his shareholding in the long-distance call provider after paying HK$9 million for a rights issue.

19 Dec 2002 - 12:00am