Inner Mongolia Yili Industrial (SHA:600887) was able to acquire 36% of China Youran Dairy (HKG:9858) through a share placement for HK$1.17 billion, according to a Shanghai bourse filing on Tuesday.
The dairy products manufacturer subscribed through its subsidiary, Boyuan Investment Holdings, for 299,250,000 newly issued shares for HK$3.92 per share.
Yili's shares dropped 2%, while Youran's shares fell 1% during the morning trade.
MediaTek (TPE:2454) unit Digimoc acquired 3.22 million preferred shares in Reed Semiconductor for about $29 million, according to a Friday Taiwan Exchange filing.Shares gained about 2% in Monday's late morning trade.The shares were purchased at an average price of about $8.99 per share, giving Digimoc an approximately 4.1% stake in Reed Semiconductor.The company made the purchase as a financial investment, it said.
Fitch Ratings upgraded China International Capital Corporation's (HKG:3908, SHA:601995) long-term issuer default rating to A- from BBB+, with a stable outlook.The agency also upgraded the same rating for its wholly owned subsidiary, China International Capital Corporation (International), to A- from BBB+.The ratings agency said the upgrade reflects CICC's strengthened strategic role in supporting China's capital market reforms and financial stability, underpinned by an extremely high probability of extraordinary support from the largest shareholder, Central Huijin Investment.Fitch also cited CICC's leading investment banking franchise, expanding international footprint, improving earnings, adequate capital position, and strong liquidity as key credit strengths.The stable outlook reflects Fitch's expectation that CICC will continue to benefit from strong shareholder support while maintaining its strategic importance to China's financial system.
Kingsmen Creatives (SGX:5MZ) subsidiary, Kingsmen Projects, received a winding-up order from the High Court of Malaya, Malaysia, according to a Friday filing with the Singapore Exchange.This comes after F&C Steel Technology initiated a winding-up petition against the indirect subsidiary, related to a sum of 218,887 ringgit, along with interest and costs, for work done.