The following press releases and media reports about Chinese companies were carried on January 16. To view a full article or story, click on the link next to the headline.
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China Mobile (HKEx: 941) Announces iPhone Plans, 16G Model For 5488 Yuan (Chinese article)
Tencent (HKEx: 700) To Pay HK$1.5 Bln For China South City (HKEx: 1668) Stake (Chinese article)
AsiaInfo-Linkage (Nasdaq: ASIA) Announces Completion of Merger (PRNewswire)
Huawei Estimates Operating Profit Rose Over 40 Pct Last Year (English article)
Former Nuomi Head Named As LinkedIn (NYSE: LNKD) China President (Chinese article)
It seems appropriate that 2 more longtime-listed Chinese companies are bowing out of New York as we head into the final days of 2013, with word that shareholders have approved plans to privatize telecoms software maker AsiaInfo-Linkage (Nasdaq: ASIA) and drugmaker Simcere Pharmaceutical (NYSE: SCR). AsiaInfo was the more lively of these 2 de-listing stories, with a narrow majority of shareholders approving a buy-out offer after several months of protest from others who thought the price was too low. Meantime, Simcere’s looming privatization raises the question of what’s next for this neglected company, whose foreign partners include Bristol-Myers Squbb (NYSE: BMY) and Merck (NYSE: MRK). Read Full Post…
The following press releases and media reports about Chinese companies were carried on December 20. To view a full article or story, click on the link next to the headline.
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Hershey (NYSE: HSY) To Buy Majority Of Shanghai Golden Monkey Food Co (Businesswire)
AsiaInfo-Linkage (Nasdaq: ASIA) Stockholders Approve of Merger Agreement (PRNewswire)
Alibaba, Wanda Group Team Up On Movie Ticket Payments On Alipay (Chinese article)
Ctrip (Nasdaq: CTRP) Invests in Online Car Rental Firm Yongche (English article)
Tesla (Nasdaq: TSLA) Starts Offering Cars In China With No Chinese Name (English article)
I’m quite excited to see some drama finally taking shape in one of the imminent privatization plans for a US-listed Chinese firm, with word that a major stakeholder in telecoms software maker AsiaInfo-Linkage (Nasdaq: ASIA) plans to oppose the company’s buy-out plan. This particular plan is just one of many privatization plans announced by US-listed Chinese companies over the last year, mostly launched by opportunistic buyers who believe the shares were heavily undervalued. But unlike the other plans, this one has drawn particular controversy due to hints of insider dealing that excluded higher bids from several US-based private equity buyers. Read Full Post…
One of the longest and strangest de-listings in the current wave of privatizations by Chinese firms could finally be nearing an end, with word that telecoms software maker AsiaInfo-Linkage (Nasdaq: ASIA) has received regulatory approval for a deal to buy out the company. This new announcement is just the latest bizarre twist in this story, as a deal of this size would normally be far too small to require such approval from China’s anti-monopoly regulator. But the approval seems to show that Beijing wants the deal to proceed in its current form, which means we may finally see an end to this strange story. Read Full Post…
The following press releases and media reports about Chinese companies were carried on December 7-9. To view a full article or story, click on the link next to the headline.
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Firms threaten lawsuits over Giant Interactive buyout
It may be quiet in the US during the Thanksgiving holiday, but shareholder lawyers were hard at work scrutinizing the new management-led buyout offer for online game operator Giant Interactive (NYSE: GA), with at least 2 hinting they will file lawsuits to seek a better bid. This is the second time we’ve seen lawyers question a buyout offer for a US-listed Chinese firm, following a similar development for privatizing telecoms software maker AsiaInfo-Linkage (Nasdaq: ASIA). Both cases highlight the challenges that such buy-outs can face, especially when buyer groups have strong ties to the companies they are seeking to privatize. Read Full Post…
The following press releases and media reports about Chinese companies were carried on November 19. To view a full article or story, click on the link next to the headline.
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Mary Ma’s New Role At HK Securities Regulator: New Life For Alibaba IPO? (Chinese article)
Xiaomi to Convert After-Sales Locations to Retail Stores (English article)
Minsheng Bank (HKEx: 1988) Gets Approval For 20 Bln Yuan Bond Issue (HKEx announcement)
ZTE (HKEx: 763) To Roll Out Smart Watch In 2014 – Executive (Chinese article)
AsiaInfo-Linkage (Nasdaq: ASIA) Announces Stockholder Vote Date For Buyout (PRNewswire)
The following press releases and media reports about Chinese companies were carried on August 8. To view a full article or story, click on the link next to the headline.
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China Fines Milk Powder Makers $110 Mln For Price Fixing (English article)
Former Alibaba Manager Yan Limin Sentenced To 7 Years For Accepting Bribes (Chinese article)
China’s H1 Average Monthly Mobile Data Use Hits 123 MB Per User (English article)
One of my well-informed sources tells me that Shenzhen-listed IT outsourcing firm Beyondsoft (Shenzhen: 002649) is weighing a bid for rival Camelot Information Systems (NYSE: CIS), in what would be an interesting twist to the ongoing exodus of Chinese firms from US stock exchanges. If this information is true, it could mean we may start to see some bidding wars among private buyers for the growing number of Chinese firms that are abandoning their New York listings due to low valuations. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 25-27. To view a full article or story, click on the link next to the headline.
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US Audit Regulator Reaches Deal With China On Document Access (English article)
China Approves H.J. Heinz (NYSE: HNZ) Purchase By Berkshire Hathaway (Businesswire)
EU Denies Breakdown In Solar Panel Talks With China (English article)
Walmart’s (NYSE: WMT) Yihaodian To Try Own-Brand For Some Products (Chinese article)
AsiaInfo-Linkage (Nasdaq: ASIA) Sells Interests in 2 Entities (PRNewswire)
