Zhejiang China Commodities City Group (SHA:600415) submitted its application for a secondary listing on the Hong Kong Exchange, according to a Monday bourse filing in Shanghai.
The commodity trading services platform will use the proceeds from its listing for business expansion, construction of its global trade services center, funding of overseas financial and payment licenses, research and development of its Chinagoods trade system architecture, and working capital.
Zhejiang Expressway (HKG:0576) said the Shanghai Stock Exchange approved its plan to acquire Zhejiang Oceanking Development (SHA:603213), a producer of chloralkali-related products, via a merger, according to a Hong Kong bourse filing Friday.Shares of the road construction company gained over 1% in morning trade Monday.The merger will be effected by way of a share swap, whereby Zhejiang Expressway will issue 1.08 of an A share for every 1 A share of Oceanking Development.Oceanking shareholders can also opt for a cash payment.Zhejiang Expressway will issue A shares at 13.50 yuan apiece, and the conversion price of Oceanking Development is 14.58 yuan per share, the firm previously said.Both Zhejiang Expressway and Zhejiang Oceanking count state-owned Zhejiang Communications Investment Group as their controlling shareholder.
Union Semiconductor (Hefei) (SHA:688403) submitted its application for a secondary listing on the Hong Kong Exchange, according to a Monday bourse filing by the integrated circuit packaging company in Shanghai.The company looks to use the proceeds to expand its automotive-grade IC packaging and testing capacity, research and development, investments and acquisitions, and working capital, according to documents submitted Friday to the Hong Kong bourse.Shares fell 4% during Monday morning trading in Shanghai.
The Federal Court of Australia partially dismissed proceeding brought by Sahil Verma, a former employee of Coles Group's (ASX:COL) Coles Supermarkets Australia, alleging racial and disability discrimination as well as breaches of the Fair Work Act, noting that they have no reasonable prospects of success, according to a court document on Monday.Verma was employed by Coles Australia as a casual trolley collector from Nov. 22, 2021, until Feb. 9, 2024, when his employment was terminated. He alleged that an employee of Coles made racial comments toward him. The Fair Work Commission (FWC) dismissed Verma's application, finding that it had been made outside the 21 days after the date on which the dismissal took effect, contrary to legal requirements.Coles had submitted that Verma's claim was incompetent because the FWC had not issued a certificate in relation to the dispute before he applied to the court. Verma did not dispute that he had no such certificate.The court said that since Verma could not satisfy the legal requirements, the court did not have jurisdiction to entertain his claims.Verma had also lodged a complaint to the Australian Human Rights Commission (AHRC) on Nov. 10, 2024, alleging that he had been discriminated against because of his disability, a mental illness, and his race.Coles Group's shares fell nearly 1% in recent trading on Monday.