GEM (SHE:002340) plans to dispose of up to 5.5% of OKE Precision Cutting Tools (SHA:688308), according to a Shenzhen bourse filing on Tuesday.
The stake represents 8,732,993 shares.
The waste resource comprehensive utilization company currently owns 10.4%, or 16,523,500 shares, of OKE's total share capital.
GEM's shares rose 1%, while OKE's shares dropped by less than 6% during the morning trade.
Man Industries (India)'s (NSE:MANINDS, BOM:513269) consolidated attributable net profit declined to 508.5 million Indian rupees in the fiscal fourth quarter ended March 31, from 681.5 million rupees a year ago.Earnings per share contracted to 7.00 rupees from 8.82 rupees a year ago, the pipes manufacturer said in a filing to the Indian stock exchanges on Monday.Revenue from operations in fiscal Q4 also fell to 11.6 billion rupees from 12.2 billion rupees a year ago.
CTBC Financial (TPE:2891) unit CTBC Bank will issue NT$9.6 billion in perpetual non-cumulative subordinated financial debentures on June 4, according to a Monday Taiwan Exchange filing.Shares gained about 2% in Tuesday's late morning trade.The 50th series subordinated bonds will carry a fixed annual coupon rate of 4.5% and have no maturity date.The bonds will be issued at face value, with each debenture carrying a denomination of NT$10 million.Proceeds will be used to strengthen its capital structure and replenish working capital.CTBC Bank said the notes may be redeemed after seven years, subject to regulatory approval.
COSCO Shipping Specialized Carriers (SHA:600428) plans to register for issuance up to 5 billion yuan in bonds with a maximum term of 20 years.Proceeds will be used for repaying debts, replenishing working capital, paying ship construction costs and other permitted purposes, according to a Tuesday filing with the Shanghai bourse.The registration is valid for two years.