99wuxian is to raise $20 million at 40c per CHESS Depositary Interest (CDI), the security used by the ASX to allow international companies to trade on the local market. It is equivalent to 40c a share and, if fully subscribed, will value the company at about $410 million. The CDI holders will account for under 5 per cent of the company.
Australian Market Report of January 6, 2011 includes: OnCard International Limited (ASX:ONC) signed a Buffet Club Purchase Cooperation Agreement with China Citic Bank (SHA:601998) (HKG:0998); South Australia Government declares 'Major Project' status for Centrex Metals Limited's (ASX:CXM) deepwater port plan; Clough Limited (ASX:CLO) receive a letter of intent for CACT Project, offshore China; China Magnesium Corporation Limited (ASX:CMC) increase its interest in the Pingyao Magnesium Project to 90.7%.
US stocks ended higher overnight on a bigger-than-expected rise in existing home sales for November. The used-home sales jumped 7.4 per cent, having increased more than double the economists' expectations.
Most Asian stock markets were lower Friday due to some profit taking selling before the release of US non-farm payrolls data.
Asian stock markets shrugged off the losses on Wall Street and mostly opened higher on Monday.
