China Construction Bank to list on Tuesday
China Construction Bank, the country's second-biggest bank by assets,
will list its shares on the Shanghai bourse on Tuesday, it said in a
statement on the Shanghai Stock Exchange Web site. The bank said it had
raised RMB58 billion (USD7.73 billion) in an initial domestic share
offering. This is China's largest ever IPO. China Construction Bank
issued 9 billion shares, or 3.85 percent of its expanded share capital,
for the listing.
PetroChina to raise up to RMB 50 Billion
PetroChina, the country's largest oil producer, will issue up to 4
billion RMB-denominated A shares in its Shanghai initial public
offering (IPO), Xinhua News Agency reported. The oil giant could raise
around RMB 50 billion (USD6.7 billion) based on the closing H share
price of HKD12.38 on Thursday. PetroChina will use RMB6.84 billionand
RMB5.93 billion respectively to boost production capacity at its
Changqing and Daqing oil fields. It will use RMB1.5 billion to build
production facilities in Jidong field, China Daily notes.
Shanghai Automotive to issue RMB8 Billion Worth of Bonds
Shanghai Automotive Co Ltd has decided to issue all its planned 8
billion RMB worth of bonds with warrants first to existing
shareholders, rather than to the general public as planned earlier. In
a statement filed with the Shanghai stock exchange, the company said
existing shareholders will have preemptive rights to subscribe to the
bonds, and that the bonds will be offered first to them.
Ubisoft Opens Studio in Chengdu
Ubisoft, one of the world's largest video game publishers, announces
the opening of a new video game development studio in Chengdu, Sichuan
Province. Richard Tsao, senior producer at Ubisoft's Shanghai studio,
has been appointed managing director of the new studio. Ubisoft Chengdu
will initially focus on internal outsourcing and in time will be
responsible for developing online titles for PC, consoles and handhelds.
Following on its history of success in China, with Ubisoft's Shanghai
studio already the second-largest Ubisoft development team in the
world, the new studio in Chengdu will open its doors in Tianfu Software
Park with 10 team members and the goal of expanding to 200 developers
over the next year.
Last update : Monday, 24 September 2007
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