Cement producer TCC International Holdings Ltd. (HKG:1136), a 44%-owned affiliate of Taiwan Cement Corp. (TPE:1101), is raising up to US$113 million via share placement
Asian markets finished mostly higher Thursday. The Shanghai Composite index was up 1.4%, after a sharp drop in previous session on Chinese government's tightening monetary policy. But Hong Kong's Hang Seng index shed 0.2% over the worries of further tightening by mainland. Japan's Nikkei 225 climbed 1.6% and South Korea's Kospi Composite rose 0.9%. Technology shares are expected to soar in Asia markets today, as Intel's better than expected quarterly profit could be a sign of tech sector recovery in 2010.
Japan's Nissan Motor (TYO:7201) said in a statement that its car sales in China rose 48 percent to a record 518,968 passenger vehicles in 2009. Nissan, which produces sedans and light commercial vehicles in a 50-50 joint venture with Dong Feng Motor, said it aims to sell 1m cars, trucks and buses in 2010, two years ahead of schedule.
Japanese retailer Ministop (TYO:9946), South Korea's Lotte Group and U.S. private equity firm Carlyle Group will make final bids for South Korean retailer Buy The Way on Friday, said sources. Asia-focused private equity firm Unitas Capital, which acquired South Korea's fourth-largest convenience store chain in July 2006 for about US$200 million, is looking to sell Buy The Why for no less than 250 billion Korean won ($223 million) and aims to close the deal by the end of the month, said the sources.
POSCO (SEO:005490) sees Daewoo International (SEO:047050) at the top of its list of potential takeover targets, its CEO said on Thursday. POSCO also indicated on Thursday it will acquire a 15% stake in Australia's Roy Hill mine as part of an effort to secure a stable supply of raw materials.
Tokyu Corp. (TYO:9005) said it has sold all of its 2.94% shareholding in Japan Airlines Corp. (TYO:9205) and expects to book a loss of 9 billion yen from the sale in the current fiscal year. The company now estimates a net profit of 10 billion yen for the year ending March 31, compared with a previous forecast of 15 billion yen.
Cement producer TCC International Holdings Ltd. (HKG:1136), a 44%-owned affiliate of Taiwan Cement Corp. (TPE:1101), is raising up to US$113 million in a share placement to help fund the purchase of cement assets from a unit of Prosperity Minerals Holdings Ltd. (LON:PMHL). Last month TCC agreed to buy the cement assets for HK$3.8 billion. The shares were offered at HK$3.26 to HK$3.43 each.
TCC International Holdings Limited
Taiwan Cement Corporation
Prosperity Minerals Holdings Limited
Nissan Motor Co., Ltd
Ministop Co., Ltd
Japan Airlines Company, Ltd
Daewoo International Corporation