SK Group's chemical and materials unit SKC (KRX:011790) plans to issue 11.7 million new shares, valued at 1.167 trillion won, according to a filing with the Korea Exchange on Wednesday.
The shares will be issued at 99,500 won apiece, the filing said.
A portion of the proceeds will be used to secure customer certification for glass substrates and establish a mass production system. SKC will also use the funds to repay borrowings.
Shares of the company fell over 3% in recent trade.
Anhui Honglu Steel Construction (SHE:002541) elected Wan Shengping as chair, according to a Wednesday filing with the Shenzhen bourse.The election followed a meeting of the company's directors to formalize the leadership transition. Wan Shengping assumed the role immediately following the board's approval.The appointment came as the steel structure specialist continued to navigate shifting demand in the industrial construction sector.Shares of the construction company were down 5% in recent trade.
China's competition watchdog conditionally approved Tencent Music Entertainment's (HKG:1698) bid to acquire Chinese audio platform Ximalaya, an online audio platform, according to media reports Tuesday.According to the State Administration for Market Regulation's notice, Tencent and Ximalaya are required to meet certain commitments, including not raising prices for online audio streaming platforms.Tencent Music agreed last year to acquire Ximalaya for $1.26 billion in cash and an issuance of stock.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
S&P Global raised the credit rating of Bohai Leasing (SHE:000415) unit Avolon Holdings to BBB from BBB-, with a stable outlook.The rating agency cited Avolon Holdings' strong order deliveries, fleet management and financial performance for the upgrade, according to a Wednesday filing with the Shenzhen bourse.Shares of the leasing company were down 4% in recent trade.