Two of this year’s biggest IPOs are both in the headlines, kicking off what’s likely to become a steady flow of news surrounding upcoming listings for e-commerce leader Alibaba and Citic Group, one of China’s oldest and most successful conglomerates. Citic is the more interesting in this latest pair of news bits, since this is the first time we’ve heard about the group’s plans to go public via a backdoor offering through its Hong Kong-listed Citic Pacific (HKEx: 267) unit. Meantime, media are reporting that investment banks are so eager to underwrite Alibaba’s IPO that they’re offering to accept record low fees for their services. Read Full Post…
The following press releases and media reports about Chinese companies were carried on January 25-27. To view a full article or story, click on the link next to the headline.
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Renren (NYSE: RENN) Sells Remaining Stake In Nuomi to Baidu (Nasdaq: BIDU) (PRNewswire)
The following press releases and media reports about Chinese companies were carried on January 22. To view a full article or story, click on the link next to the headline.
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Tiger Global Snaps Up Alibaba Shares At Lofty Valuation (English article)
Qihoo 360 (NYSE: QIHU) Announces Resignation Of 2 Board Members (PRNewswire)
Shuanghui International Changes Name To WH Group (Businesswire)
New Oriental (NYSE: EDU) Announces Unaudited Fiscal Q2 Results (PRNewswire)
Citic Securities (HKEx: 6030) Gives Preliminary Financial Data For 2013 (HKEx announcement)
The following press releases and media reports about Chinese companies were carried on August 30. To view a full article or story, click on the link next to the headline.
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Carlyle, Shanghai Yupei To Invest $200 Mln On China Logistics Warehouses (Businesswire)
Sina (Nasdaq: SINA) Acquires Online Literature Site Xuan Guoke – Source (English article)
The ongoing cash crunch at Chinese banks may be partly behind reports that a trio of regional banks are aiming to make IPOs in Hong Kong, with Bank of Shanghai, Huishang Bank and CGB all aiming to list in the second half of the year. These regional lenders may also be losing patience while waiting for China to lift a freeze on new IPOs that dates back to last year, which has led to a backlog of dozens of companies that want to make offerings. The China Securities Regulatory Commission (CSRC) had been giving signals that it could soon lift the freeze, though it may change its mind if the current sell-off on Chinese stock markets continues. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 11-13. To view a full article or story, click on the link next to the headline.
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Alibaba To Invest $294 Mln In Mapping Firm AutoNavi (Nasdaq: AMAP) (English article)
Hyundai Motor (Seoul: 005380) Mulls 4th China Plant: Vice Chmn (English article)
CSRC Approves Citic Securities (HKEx: 6030) To Issue 20 Bln Yuan in Bonds (HKEx announcement)
Apple (Nasdaq: AAPL) Building 4th Retail Store in Beijing – Source (English article)
Yum (NYSE: YUM) April Same-Store Sales Fall 29 Pct in China (English article)
An interesting new trend has major Chinese firms financing their global expansions with mega bond offerings, with leading brokerage Citic Securities (HKEx: 6030; Shanghai: 600030) and oil exploration giant CNOOC (HKEx: 883; NYSE: CEO) becoming the latest to tap international debt markets. This kind of overseas mega bond issue isn’t really new for Chinese firms, as many in sectors ranging from telecoms to real estate have issued similar corporate debt in the past. But what’s new now is that these latest offers are coming from companies that have made major acquisitions over the last year, and now they’re testing the markets to see if bond buyers will help to pay for those assets. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 26. To view a full article or story, click on the link next to the headline.
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China’s biggest brokerage CITIC Securities (HKEx: 6030; Shanghai: 600030) could be a company to watch over the next 2-3 years as it attempts to become the country’s first truly global player using its newly acquired CLSA unit as a stepping stone. If I were making bets, I would say the company has the resources it needs to become one of the top second-tier global players in the next 4 or 5 years, competing successfully with the likes of names like Japan’s Nomura and Britain’s Barclays Capital. If it can do that, I would even give the company a chance of eventually entering the echelons of a global elite that includes names like Morgan Stanley (NYSE: MS) and Goldman Sachs (NYSE: GS), though that will take at least a decade or possibly longer.
The following press releases and media reports about Chinese companies were carried on October 26. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Securities brokers certainly aren’t having much fun these days, watching their profits shrivel as China’s stock markets hover at 3-year lows. But the latest results from leading brokerage CITIC Securities (HKEx: 6030; Shanghai: 600030) hint that a rebound could be coming towards the end of the year, as bargain hunters — led by a growing number of foreign investors — start to pour into the market. It’s obviously too early to say whether this potential rally will be sustainable since it hasn’t even begun yet. But the chances of a rally lasting at least a half year or longer seem realistic as China opens its doors wider to foreign investment in its stock markets and domestic firms make an effort to become more transparent and clean up some of their questionable accounting practices.
Securities brokers certainly aren’t having much fun these days, watching their profits shrivel as China’s stock markets hover at 3-year lows. But the latest results from leading brokerage CITIC Securities (HKEx: 6030; Shanghai: 600030) hint that a rebound could be coming towards the end of the year, as bargain hunters — led by a growing number of foreign investors — start to pour into the market. It’s obviously too early to say whether this potential rally will be sustainable since it hasn’t even begun yet. But the chances of a rally lasting at least a half year or longer seem realistic as China opens its doors wider to foreign investment in its stock markets and domestic firms make an effort to become more transparent and clean up some of their questionable accounting practices.
