Midas Holdings, the manufacturer of aluminium alloy extrusion products for the passenger rail transportation sector in China, today gained 7.4% to close at HK$5.83 (98.5 cents) on its first trading on the Mainboard of the Stock Exchange of Hong Kong Limited (SEHK).
Midas IPO offer price was HK$5.43.
Active trade was registered, with 70.5 million shares changing hands, representing an aggregate turnover of approximately HK$417 million. Midas closed $1.01 in Singapore today.
Joint Treasure bought the eight-acre (3.2-hectare) property next to the Beverly Hilton — for less than a third of its sale price of about US$500 million in 2007 — at auction from Mexican billionaire Carlos Slim’s bank, Inbursa.
CityDev (C09.SG) +0.5% at almost 9 weeks high of $12.82, supported by news of developer’s plan to sell 21-storey freehold Singapore office building for $215 million, says Dow Jones.
Privately-held Oxley Consortium has received offer to buy The Corporate Office, located at Singapore’s central business district.
Move marks CityDev’s latest divestment of its non-core assets, with recent sales, both finalised and proposed, including Singapore’s Chinatown Point, Tanglin Shopping Centre, plus site in Kuala Lumpur.
Royal Bank of Scotland raises UOL Group (U14.SG) target price to $5.70 from $5.20 to factor in higher average selling price for developer’s Spottiswoode residential project in Singapore, accretion from its China land acquisition, higher market valuation for its stakes in United Industrial Corp, keeps Buy call, says Dow Jones.
RBS says recent RMB2.06 billion ($405 million) purchase of Shanghai site should prove profitable, with residential project potentially fetching RMB50,000/sq m in average selling price vs RMB24,000/sq m acquisition price.
Research house adds recent Singapore housing-market curbs have resulted in subdued government land sales, which bodes well for UOL as company hasn’t acquired any sites so far this year, but contemplating active participation in government tenders. Shares off 1.5% at $4.63.
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Mainboard-listed China Taisan Technology Group Holdings, one of the leading producers of knitted performance fabrics in China, issays it has fixed the issue price of its Taiwan Depository Receipt (TDR) at NT$12.15 ($0.511) per TDR, or equivalent to $0.255 for each mother share in Singapore.
This represents a 10.05% premium over the weighted average price of its mother shares from 23 September 2010 to 28 September 2010 of S$0.232.
Oracle, which now owns the Sun server, storage and workstation franchises, filed a new legal action against Micron, charging the company with price fixing over a span of about five years. – Data center software and systems maker Oracle, which has seen its
own share of litigation over the past several years–especially
involving the acquisition of Sun Microsystems–is seeking legal
restitution against solid-state memory maker Micron for alleged
price fixing.
Oracle, which now o…
China Taisan Technology Group Holdings says the issue price for each Taiwan Depository Receipt will be fixed at NT$12.15 (51 cents).
Each TDR represents two ordinary shares of the company.
The TDR issue price is at a 10.05% premium to the weighted average price for trades done on the SGX during bookbuilding duration from Sept 23 to 28.
In line with Taiwanese regulatory requirements, China Taisan says the TDRs will be issued to the following parties in the following manner:
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The following companies may have unusual price changes in Singapore trading today. Share prices are from the previous close. Singapore’s Straits Times Index gained 0.7% to 3,113.46.
Fu Yu Corp. (FUYU SP): The manufacturer of plastic injection molds said it sold properties in Tianjin, China, for 34 million yuan ($6.6 million). The stock dropped 3.5% to 14 cents.
The price of natural gas in Serbia should go up by 25.1 percent, said Director of the Srbijagas public company Dušan Bajatović. However, he told B92 in Belgrade on Wednesday that the request for this is yet to be sent to the government.
Its a big day for PlayStation as today we unveiled an unparalleled software lineup, a premium extension to the PlayStation Network called PlayStation Plus and huge momentum on the hardware front with 3D gaming and PlayStation Move, at the E3 Expo in Los Angeles. With the launch of the worlds first 1:1 motion gaming platform for the PlayStation 3 system, PlayStation Move, in North America on September 19, 2010, this truly changes everything.
CIMB downgrades Midas Holdings (5EN.SG) to Neutral from Outperform on valuation grounds, says Dow Jones.
“The market is responding well to the group’s impending Hong Kong listing…(but) we believe the recent run in its share price has priced in the positives,” says CIMB.
The research house is trimming its target price to $1.10 from $1.14 to reflect dilution stemming from sale of 220 million new shares in IPO, with over-allotment option for another 33 million shares.
Offer price expected to be finalized by September 28, won’t exceed HK$6.10 or $1.05.
Trading begins October 6. Shares off 0.9% at $1.06.
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Genting Malaysia Bhd. said it raised the acquisition price for the UK casino businesses of its Singapore affiliate to 351.5 million pounds ($728.2 million) from 340 million pounds.
The increased price is to reflect the lower net debt position of the UK group, Genting Malaysia said in a statement today. The proposed acquisition was approved by the British Gambling Commission, it said.
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The Price of the VectorVest Composite hit a low point on July 6th; then shot higher for several days. It was time to go long.
Kate Price a.k.a Jordan has been accused of an i-pod rip off, for she’s charging almost double the normal Apple price on some of her personalised iPod products. Kate’s iPod models are customised with her own designs and some even contain her KP crest. The range, which she launched wearing a silver catsuit last month, [...]
Sony is rolling out revamped versions of its three e-readers and selling its Pocket Edition at a higher price in a bid to compete against the cheaper Amazon Kindle and Barnes & Noble Nook. – Amazon.com and Barnes amp; Nobles strategies for
conquering the e-reader market? Cut the prices of their respective Kindle and
Nook devices.
Sonys strategy for boosting its sales numbers in that same
market? Raise the price of its refreshed Reader Pocket Edition and justify it
with additional…
