Markets

Prudential's HK listing is thrown into doubt

Mandy Loand, Katherine Ng The Standard 06.05.2010
Prudential's HK listing is thrown into doubt

Prudential's dual listing in Hong Kong and Singapore looks in doubt after the insurer's buyout of American International Assurance and the launch of a rights issue was delayed by the UK's Financial Service Authority.

Russia's Strikeforce Mining Seeks $150M to $200M Raise in Hong Kong IPO

Strikeforce Mining & Resources, the fifth-largest primary molybdenum mine producer in the world, plans to raise between $150 million and $200 million from a Hong Kong initial public share offering, a source close to the deal said Monday.


L'Occitane HK share offering to raise up to 812 mln dlrs

French cosmetics group L'Occitane said Sunday it could raise as much as 812 million US dollars in a Hong Kong share offering.

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Insurance giant Prudential, which has agreed to buy the Asian arm of troubled US insurer AIG, said Friday its shares were expected to start trading in Hong Kong on May 11.


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The Financial Services & The Treasury Bureau has launched another public consultation, this one on its proposals to establish an Investor Education Council and a Financial Dispute Resolution Centre.

Hang Seng sees high inflation, low growth

MandyLo The Standard 09.02.2010
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Hong Kong may face low economic growth and high inflation this year, Hang Seng Bank (0011) economists have predicted.


Big Larry beats small guys

Sophie He and agencies The Standard 26.01.2010
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Former CITIC Pacific boss Larry Yung Chi-kin emerged victorious yesterday after three minority shareholders suing him said they will discontinue their action.

You've got mail, Warren ...

Benjamin Scent and agencies The Standard 17.09.2009
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If billionaire investor Warren Buffett had known how to check his voice mail, the world might have averted the worst financial crisis in 80 years.


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Fortis Insurance Co (Asia) is demanding that former regional director Inneo Lam Hau-wah, who was at the center of the recent PCCW (0008) privatization controversy, immediately pay back HK$34.92 million he borrowed from the company to make payments...

We'll take the money, say BOC minibond holders

Katherine Ng The Standard 19.08.2009
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Bank of China (Hong Kong) (2388) has received a hearty initial response to a proposal to compensate those who lost most of their investments in Lehman Brothers minibonds.


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Hong Kong is reported to have pulled out of its deepest recession since the Asian financial crisis in the second quarter as GDP grew more than two percent from the previous three months.

Worst is over, but rebound won't be... V shaped

Alfred Liu and Mandy Lo The Standard 14.08.2009
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The "worst is over" for the economy, according to Li Ka-shing, however there is still a long way to go before a full recovery.


Nightmare nears end

Alfred Liu The Standard 23.07.2009
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Banks have agreed to splash out more than HK$6 billion to buy back all outstanding Lehman Brothers minibonds.

Investors soon to get minibond payback terms

Alfred Liu and Mandy Lo The Standard 22.07.2009
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Investors in Lehman minibonds will soon know how much they can get back, as banks will reveal the final compensation proposal within a few days, sources said, after a fight which has dragged on since last September.


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The Hong Kong stock market has surged above 19,000 - its highest level since last September. The Hang Seng Index ended the morning session 464 points higher - or 2.38 percent - at 19,252. Mainland and other regional shares also extended gains.

New deal to settle minibond buyback

Katherine Ng The Standard 03.07.2009
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Sixteen banks which sold Lehman Brothers minibonds will pay most investors 60 percent of the principal as settlement - and no more.


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Hong Kong shares gained 4 percent to finish at their highest level since September last year, after data showed a continued expansion in mainland manufacturing.

Lose some, win some

Katherine Ng and Benjamin Scent The Standard 22.05.2009
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The Hong Kong Exchange Fund suffered an investment loss of HK$33.5 billion in the first quarter of the year - but managed to recoup it all in the past six weeks.


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Tycoon Li Ka-shing says privatising companies in Hong Kong is virtually impossible because "trouble-makers" can easily disrupt any attempt.

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Hong Kong's Exchange Fund has reversed losses of HK$33.5 billion in the first quarter.



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