Bottom line: IPOs this week by Spring Airlines and Wanda Cinema should debut strongly, and a proposed Hong Kong listing by Sinopec’s retail arm should also do well if broader market sentiment remains strong.
Spring IPO set for liftoff
We’re only 2 weeks into the New Year, but already the IPO market is getting off to a roaring start with major new listings from budget carrier Spring Airlines and the movie theater unit of real estate giant Wanda Group. At the same time, other media are reporting that the newly spun off retail arm of oil refining giant Sinopec (HKEx: 386), already flush with cash from a major stake sale to private investors last year, is also eying an IPO in Hong Kong. Read Full Post…
The following press releases and media reports about Chinese companies were carried on January 13. To view a full article or story, click on the link next to the headline.
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Alibaba (NYSE: BABA) To Invest Over $500 Mln In Indian Startup (English article)
Facebook (Nasdaq: FB) Discussed Possible Investment In Xiaomi – Sources (English article)
Sinopec (HKEx: 386) Plans To List Retail Unit In Hong Kong – Report (English article)
China’s Wanda Cinema Seeks To Raise $203 Mln In Scaled-Back IPO: Sources (English article)
China Domestic Market Cellphone Output Drops 21.9 Pct in 2014 (Chinese article)
The following press releases and media reports about Chinese companies were carried on January 7. To view a full article or story, click on the link next to the headline.
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US Solar Tariff Review Hints At Halved Chinese Cells Rate (English article)
TCL (Shenzhen: 000100) Invests $100 Mln In Wanda’s E-commerce JV (English article)
Kuaidi Taxi App May Raise $800 Mln In New Funding Round (Chinese article)
Drugmaker Sues Tencent (HKEx: 700) Over Rumors Circulating On WeChat (Chinese article)
NDRC Approves Private Investment Plan For Sinopec (HKEx: 386) Retail Unit
After a year of mostly hype, Shanghai’s new Free Trade Zone (FTZ) has finally begun showing the world some substance in the last 2 months with a recent string of high-profile announcements by major companies that plan to set up in its borders. Microsoft (Nasdaq: MSFT) and Amazon (Nasdaq: AMZN) were among the first to announce plans, and were joined last week by US retail giant Costco (Nasdaq: COST) and top Chinese oil refiner Sinopec (HKEx: 386; Shanghai: 600028; NYSE: SNP). Read Full Post…
The following press releases and media reports about Chinese companies were carried on October 18-20. To view a full article or story, click on the link next to the headline.
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Taiping, Sinopec (HKEx: 386) in $800 Mln Shanghai FTZ Financial Leasing JV (English article)
Apple (Nasdaq: AAPL) Looks for Big Screen Boost as iPhone 6 Hits China (English article)
China’s Wanda Cinema Line Makes Fresh IPO Bid With Govt Regulator (English article)
Warner Bros, Brett Ratner Cut Deal To Create Chinese Investment Fund (English article)
It seems that oil refining giant Sinopec (HKEx: 386) just can’t say “no” when it comes to choosing partners for its new retail joint venture, which is part of Beijing’s pilot program to inject more private money into big state-owned enterprises. That’s my quick assessment, following the company’s announcement that it has chosen a whopping 25 mostly domestic partners for the new venture, which will own and operate the company’s vast network of gas stations and convenience stores throughout China.
I’ve been covering the Chinese corporate scene for quite a while now, and can truthfully say that 3 or 4 partners in a single joint venture is already considered a lot. In short, I’ve never seen so many partners named for a single joint venture, and suspect Sinopec is taking this strange move to avoid having to give any of these numerous partners any actual voice in the running of its retail unit, Sinopec Sales. Read Full Post…
I’ve become a big fan lately of top Internet company Tencent (HKEx: 700), which has taken a more focused, measured approach to M&A in a recent string of major acquisitions and tie-ups by China’s top 3 web firms. But the company seems to be rapidly moving into M&A overdrive, following word of 3 major new deals this week alone, none of which looks too exciting or focused. Whereas nearly all of Tencent’s tie-ups to date have been with other online firms, the trio of rumored new deals all involve major players from traditional industries that have little or no experience on the Internet. Read Full Post…
The following press releases and media reports about Chinese companies were carried on August 27. To view a full article or story, click on the link next to the headline.
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Sinopec (HKEx: 386), Tencent (HKEx: 700) Join To Develop Non-Oil Business (Chinese article)
Microsoft (Nasdaq: MSFT) Probe Also Includes Browser, Media Player – SAIC (Chinese article)
China Investment Corp Boosts SMIC (HKEx: 981) Stake To 12 Pct From 11.25 Pct (HKEx announcement)
KKR Agrees To Buy 18 Pct Of China Chicken Firm For $400 Mln (English article)
Trina Solar (NYSE: TSL) Announces Q2 Results (PRNewswire)
The following press releases and media reports about Chinese companies were carried on August 23-25. To view a full article or story, click on the link next to the headline.
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Regulator Says Qualcomm (Nasdaq: QCOM) Seeks To End Anti-Trust Probe (English article)
US Game Designer Ouya Scores Xiaomi Partnership To Take Games To China (English article)
Gas stations were never that attractive to me as an investment, but a group of major firms seem to think differently as oil refining giant Sinopec (HKEx: 386; Shanghai: 600028) gets set to sell up to 30 percent of its retail arm. That’s my conclusion, following reports that domestic investment giant Fosun (HKEx: 656) and Internet leader Tencent (HKEx: 700), and Canadian retailer Alimentation Couche-Tard (Toronto: ATDb) are among the finalists bidding for a stake in the Sinopec unit. In separate headlines, the acquisitive Fosun is also reportedly in talks for another mega deal that would see it purchase the US unit of global insurance giant Swiss Re (Switzerland: SREX). Read Full Post…
The following press releases and media reports about Chinese companies were carried on August 20. To view a full article or story, click on the link next to the headline.
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Solar Boom Driving First Global Panel Shortage Since 2006 (English article)
Fosun (HKEx: 656) Said In Talks To Buy Swiss Re’s Aurora in US (English article)
