FINWIRES · TerminalLIVE
FINWIRES

Allied Group Plans Up to HK$570 Million Investment in APAC Resources

By

Allied Group (HKG:0373) plans to participate in APAC Resources' (HKG:1104) broader rights offering, potentially investing up to HK$569.8 million, according to a Thursday filing with the Hong Kong bourse.

The financial services company's shares fell nearly 6%, while those of APAC Resources tumbled 27% in morning trade Friday.

Allied Group will subscribe to its entitlement of 349.1 million rights shares for HK$506.2 million, and 43.9 million rights shares by way of excess application for HK$63.7 million.

Following completion, Allied Group will hold 1.09 billion APAC shares, representing 48.70% of the company's enlarged issued share capital, assuming no other APAC shareholder takes up their rights and no outstanding warrants are exercised.

Related Articles

Asia

CapitaLand Ascott Trust to Divest Singapore Hotel for SG$360 Million

CapitaLand Ascott Trust (SGX:HMN) signed a property sale and purchase agreement to dispose of The Robertson House by the Crest Collection in Singapore for SG$360 million, according to a filing with the Singapore Exchange on Friday.The property is being sold to an undisclosed and unrelated third party, the filing said.The 336-unit hotel spans 11,056 square meters in gross floor area and has a 99-year lease that commenced Nov. 27, 2006.The divestment is expected to conclude in the third quarter of the year, with proceeds from the disposal to be used to optimize capital structure and enhance long-term returns for unitholders.

$SGX:HMN
Asia

GCL New Energy to Form JV With AntChain

GCL New Energy (HKG:0451) plans to form a joint venture with AntChain to provide intelligent asset management and operational services outside of mainland China, according to a Thursday filing with the Hong Kong bourse.The renewable energy company's shares gained nearly 12% in morning trade Friday.The firm will contribute 8 million yuan to the venture for a 40% equity interest, with a further 10 million yuan coming from AntChain for the remaining 60%.The joint venture is subject to definitive agreements.

$HKG:0451
Asia

NZX Biggest Gainers

Here are the NZX-listed companies with the biggest gains on Friday.Tourism Holdings (NZE:THL): +22%, NZ$2.69Santana Minerals (NZE:SMI): +9%, NZ$0.68Green Cross Health (NZE:GXH): +5%, NZ$1.51EROAD (NZE:ERD): +5%, NZ$1.04Pacific Edge (NZE:PEB): +4%, NZ$0.28Michael Hill International (NZE:MHJ): +3%, NZ$0.40Serko (NZE:SKO): +3%, NZ$1.64Precinct Properties NZ (NZE:PCT): +2%, NZ$1.03PGG Wrightson (NZE:PGW): +2%, NZ$2.09Auckland International Airport (NZE:AIA): +2%, NZ$8.36

$^NZ50$NZE:AIA$NZE:ERD$NZE:GXH$NZE:MHJ$NZE:PCT$NZE:PEB$NZE:PGW$NZE:SKO$NZE:SMI$NZE:THL