Investment Correspondent
Daisy's Feed
Dec 8, 2010

Vale debuts in Hong Kong, woos Asia investors

HONG KONG, Dec 8 (Reuters) – Vale SA , the
world’s biggest iron ore miner, listed on Wednesday at the
Hong Kong stock exchange where it traded at a premium to New
York’s close, as the Brazilian company sought to raise its
profile among Asian investors.

The listing further underscores the Hong Kong bourse’s
position as one the world’s premier stock exchanges.
Rio de Janeiro-based Vale is the first company to issue
so-called Hong Kong Depositary Receipts (HDRs) after the
bourse implemented new rules for them in 2008.

Nov 29, 2010

Asia regulators say G20 reform driven by U.S., Europe

HONG KONG (Reuters) – The lack of a unified Asian voice in the Group of 20 leading economies means the United States and Europe are driving the overhaul of global financial regulation with several of the new rules posing significant challenges for emerging markets, regulators said in a regional summit on Monday.

The G20 has endorsed a series of major reforms to banking and financial market regulation, which the five Asian members of the group and Financial Stability Board members Hong Kong and Singapore have signed up to.

Nov 16, 2010

Russia’s Mechel eyes mining unit IPO in H2 2011

HONG KONG, Nov 16 (Reuters) – Russia coking coal and steel
producer Mechel (MTL.N: Quote, Profile, Research, Stock Buzz) plans an initial public offering of its
mining division in the second half of 2011 at the earliest to
fund growth, its Chief Financial Officer told Reuters on
Tuesday.

The Justice family sold $229 million worth of Mechel
preferred American Depository Shares in May, at $7.50 each,
below an indicated range of $10.50 to $13.80. But Mechel share
prices have since surged 228 percent to $24.6 apiece.
[ID:nLDE6461RU]

Nov 8, 2010

New EU rules may hit Asia hedge fund and buyout industries

SINGAPORE/HONG KONG (Reuters) – Hedge funds and private equity firms based in Asia face tough new rules on pay and leverage from a regulatory overhaul set to pass in Europe this week.

The European Union’s Alternative Investment Fund Managers Directive, which goes before the European Parliament on Thursday, will apply to all fund managers with EU-based clients, regardless of where they are domiciled.

Nov 8, 2010

Analysis – New EU rules may hit Asia hedge fund industry

SINGAPORE/HONG KONG (Reuters) – Hedge funds and private equity firms based in Asia face tough new rules on pay and leverage from a regulatory overhaul set to pass in Europe this week.

The European Union’s Alternative Investment Fund Managers Directive, which goes before the European Parliament on Thursday, will apply to all fund managers with EU-based clients, regardless of where they are domiciled.

Nov 2, 2010

CCB to raise $9.2 bln through rights issue

HONG KONG/SHANGHAI, Nov 2 (Reuters) – China Construction
Bank (CCB) (0939.HK: Quote, Profile, Research, Stock Buzz) (601939.SS: Quote, Profile, Research, Stock Buzz), the country’s No. 2 lender
plans to raise up to 61.62 billion yuan ($9.2 billion) through
a rights issue this month, less than expected, to shore up its
balance sheet after a 2009 lending binge.

Its plans for a rights issue in Hong Kong and Shanghai
follow Friday’s announcement by Bank of China (3988.HK: Quote, Profile, Research, Stock Buzz)
(601398.SS: Quote, Profile, Research, Stock Buzz) for a rights issue to raise up to $9 billion.
[ID:nTOE69R0BY]

Oct 25, 2010

OTC derivatives trade grows in 2010 despite crackdown -ISDA

HONG KONG, Oct 25 (Reuters) – The outstanding amount of
over-the-counter derivatives rose during the first half of 2010
despite calls by regulators to move much of the market on to
exchanges, the International Swaps and Derivatives Association
said on Monday.

The ISDA said the total notional amount outstanding of OTC
derivatives amounted to $466.8 trillion as of June 30, up 1
percent from the end of 2009.

Oct 5, 2010

Yuan IPOs possible in HK from 2011 – HKEx CEO

HONG KONG, Oct 5 (Reuters) – Hong Kong could see initial
public offerings denominated in China’s yuan currency as early as
next year, the chief executive of the territory’s stock exchange
said on Tuesday, as Beijing moves to internationalise the
currency.

China and Hong Kong agreed to loosen rules regulating trade
of the yuan in the territory in July, paving the way for the sale
of yuan-denominated financial products and giving greater access
to yuan funds.

Mar 23, 2010

PAI Partners near $1 bln Chr.Hansen IPO – sources

LONDON, March 23 (Reuters) – French private equity firm PAI
Partners is likely to pick Credit Suisse, J.P.Morgan and Morgan
Stanley to handle Chr.Hansen’s $1 billion initial public
offering, sources familiar with the matter said.

PAI has yet to make a final call, but a pre-marketing of the
Danish bioscience company could kick start as early as next
month, after the Easter holiday, one source said.

Mar 22, 2010

Kabel Deutschland has lacklustre stock market debut

FRANKFURT/LONDON, March 22 (Reuters) – Shares in cable
television company Kabel Deutschland <KD8Gn.DE> suffered a
lacklustre debut in Europe’s biggest flotation so far this year,
signalling fragile investor appetite.

Germany’s largest cable operator raised 759 million euros
($1 billion) for U.S. owner Providence Partners in its initial
public offering (IPO) on the Frankfurt stock exchange on Monday,
valuing it at 5 billion euros, including 3 billion of debt.

    • About Daisy

      "I covered equity capital markets for the EMEA region for three years as well as trading and exchange-related market infrastructure news before retuning to Hong Kong to take part in Thomson Reuters' new project -- Trading China. Before the London assignment, I had covered equity capital markets for the Greater China region for seven years."
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