The long and short of a divisive tactic

Hong Kong stockbrokers are getting hot under the collar about the practice of short selling.

Wednesday, 12 October, 2011, 12:00am

Expected volatility augurs well for warrants

Warrant sales could pick up in the second half of this year as retail investors anticipate more volatility in stock prices of mainland companies, according to banks.

Warrants, like options, are derivative securities that give the holder the right to buy the underlying shares from the issuer at a specific price within a certain period.

6 Jul 2011 - 12:00am

HKEx mulls disciplinary action on Goldman Sachs

The stock exchange is seeking to review Goldman Sachs's suitability for issuing warrants in the future and is considering disciplinary action on the Wall Street bank for a mathematical error that caused the suspension of HK$600 million worth of Nikkei-linked warrants it issued.

24 May 2011 - 12:00am

Investors win meeting with Goldman over new payout proposal

Goldman Sachs will meet with investors about a payout agreement covering four Nikkei Index-linked warrants after the Wall Street bank's proposal to buy back the products was rejected by investors last month.

11 May 2011 - 12:00am

Goldman offers to buy back warrants

Goldman Sachs offered to repurchase four listed Nikkei-linked warrants estimated to be worth HK$600 million after a three-week halt. The bank said until May 16 it would pay holders 110 per cent of the total net purchase price or 110 per cent of the buy-back value, whichever is higher.

22 Apr 2011 - 12:00am

HKEx working on new yuan product

The bourse plans to finish preparation work for a new yuan product by September, Hong Kong Exchanges and Clearing chief executive Charles Li Xiaojia said.

21 Apr 2011 - 12:00am

TPG Capital set to invest HK$1.1b in Comtec Solar

Comtec Solar Systems Group, a major Chinese maker of monocrystalline solar wafers, says TPG Capital will invest up to HK$1.17 billion in the firm.

TPG will subscribe for HK$780 million of unsecured convertible bonds due 2016. The bonds are convertible into new ordinary Comtec shares at an initial conversion price of HK$3.90.

20 Apr 2011 - 12:00am

Listing sponsors have failed to up their game

Hong Kong has become the world capital for the listing of initial public offerings on the back of the mainland's continued strong economic growth. After the lessons of the financial crisis, investors have good reason to hold investment bankers accountable for sound diligence.

5 Feb 2011 - 12:00am

Coolpoint shares plunge 19.3pc after cut-rate share and warrant sales

Coolpoint Energy, the Growth Enterprise Market vehicle of former gymnastics star Li Ning and his brother Li Chun for industrial park and property development, saw its shares plunge 19.3 per cent after it raised HK$1.42 billion by selling shares and warrants at sharp discounts.

28 Oct 2010 - 12:00am

HK investors can choose to own e-shares

Hong Kong investors will be able to opt for 'paperless' shares by 2013, two decades after the idea of the electronic scrip was first proposed.

The Securities and Futures Commission and Hong Kong Exchanges and Clearing yesterday jointly announced new laws to allow companies to issue electronic versions of share certificates to investors.

22 Sep 2010 - 12:00am

Corrections & clarifications

A photograph accompanying an article in Thursday's business section about Sincere, the Hong Kong retailer, should have been of executive chairman Walter Ma, but was mistakenly that of a fashion designer by the same name.

11 Sep 2010 - 12:00am

Daiwa unit to buy part of KBC Group

Daiwa Capital Markets, the investment banking arm of Japan's brokerage and financial services firm Daiwa Securities Group, is to buy Belgium's KBC Group's global convertible bonds and Asian equity derivatives operations for US$1 billion. The acquisition is still subject to regulatory approval.

6 Jul 2010 - 12:00am

Gold investor punished for trading abuse

William Lee Tak-lun, the president of the Chinese Gold & Silver Exchange Society, has been suspended by the Securities and Futures Commission from working in the investment industry for a year. The SFC also fined his firm, Grand Investment (Securities), HK$3 million for turning a blind eye to abuse in the trading of derivative warrants by two clients from January 2004 to January 2005.

3 Nov 2009 - 12:00am

SRE to raise US$155m to repay debt

Mainland property developer SRE Group plans to raise as much as US$155 million from sales of convertible bonds and shares to refinance debts, market sources said.

The company is selling US$60 million worth of yuan-denominated convertible bonds, according to a sales document sent to fund managers. The five-year bonds will pay an interest of 5 to 6 per cent every six months.

30 Jun 2009 - 12:00am

Five issuers to quit competitive warrant market

At least five derivative issuers will withdraw from the Hong Kong warrant market amid the global financial crisis, according to an executive of Societe Generale, one of most active participants in the market.

3 Oct 2008 - 12:00am