HONG KONG: BEFORE THE OPEN, 21May2013

Vampire squid dumps ICBC stake; New ETF and A share derivatives; PICC rights; COSCO dumps CIMC; The return of the duck. Here’s what you need to know pre open.

BLOCKS BLOCKS BLOCKS: PICC P&C rights issue at 52% discount

PICC P&C to issue rights approximate amount to be raised HK$7,257mm. Everybody’s coming out of the woodwork to capital raise.

Hong Kong Exchange

HONG KONG: BEFORE THE OPEN, 20May2013

Timmy Tong quiet as a mouse; Civil servants want inflation linked pay; Better luck next time HKMEx; HKIA traffic healthy; To poison us better; Yanzhou capital raising. Here’s what you need to know.

BLOCKS BLOCKS BLOCKS: Yanzhou Coal to issue USD denominated securities

From Bloomberg:

The securities will be issued by a wholly owned subsidiary and guaranteed by Yanzhou Coal. The proceeds will be used for debt repayment, capital expenditure, working capital and general corporate purposes, the miner said.

TAIWAN: BEFORE THE OPEN, 21Mar2013

 

1. Qisda to sell NT2.21bn of Lite-on shares

2. President Ma and Pope hit it off

3. Feb exports shrink 14%

4. Report: S Korean tech firms’ “Kill Taiwan” plan still in action

5. Cloud seeding to begin today in hopes of relieving drought

6. National Security Bureau sees mainland’s cyber threat as “VERY SEVERE”

7. DPP plans 1,000 anti-nuke events… Pretty obvious country doesn’t want Nuke 4

8. Chi Mei warns of decreased revenues this quarter

9. 1Q13 will not be kind to notebook makers… Expect 5-10% QoQ revenue declines

10. Ultra HD TV penetration rate may climb to 20%… Innolux main beneficiary

TSMC To Sell US$1.5bn Of Bonds Overseas

From DigiTimes:

Proceeds from the bonds will be used for financing TSMC’s capacity expansions, the report said. TSMC’s capital expenditure is forecast to reach US$9 billion in 2013, and top US$10 billion in 2014, according to the report.

BYD Said To Plan Sale Of Up To 20% Of HK Stock… Cue Freefallin’, Stock Down 8%

Epistar Contemplating US$470mm Private Placement

From DigiTimes:

The deadline for the private placement is set for the end of June, and as Epistar’s recent stock price has returned to NT$55/share (US$1.84/share), the deal is likely to reach a conclusion before the end of April. Epistar noted that the private placement will emphasize forming effective strategic alliances and building a downstream distribution chain. The firm said it has been evaluating various possibilities.