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Atlas Arteria Continues to Reject Off-Market Takeover Bid

Atlas Arteria (ASX:ALX) continued to recommend that shareholders reject the off-market takeover bid by Diamond Infraco 1, an IFM Global Infrastructure Fund subsidiary, for 100% of the fully paid stapled securities that it does not already own in the company, according to a Monday filing with the Australian bourse.The independent expert concluded that the offer of AU$5.10 per share is "neither fair nor reasonable" as it is 12% below the AU$5.79 midpoint of the valuation range of AU$5.39 to AU$6.20 for Atlas Arteria securities, the filing said.Additionally, the independent directors plan to target paying distributions to securityholders of at least AU$0.60 per security in the 12 months after the end of the offer period, per the filing.

ASX:ALX

Asia10d ago

Gree Electric Appliances Shareholder Trims Stake to 15.4%

Gree Electric Appliances (SHE:000651) said Zhuhai Mingjun Investment Partnership trimmed its stake in the company to 15.35% from 16.11%.On June 4, Zhuhai Mingjun Investment Partnership sold 42.8 million Gree Electric Appliances shares for 1.59 billion yuan, according to a Monday filing with the Shenzhen bourse.

SHE:000651

Asia10d ago

Zhejiang Laifual Drive Launches HK$1.15 Billion Hong Kong IPO

Zhejiang Laifual Drive (HKG:3952) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$1.15 billion.The Chinese robotics company is offering 13.44 million H-shares at an indicative price range of HK$77 to HK$85.50 per share, according to a Hong Kong bourse filing.The offering comprises 672,100 shares for Hong Kong investors and 12.77 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by June 26, with allocation results due by June 29, ahead of the company's planned trading debut on June 30.Net proceeds will be used to expand the company's production and research and development capabilities, as well as its overseas sales network.The company secured ten cornerstone investors who committed to purchasing $55 million worth of IPO shares.CMB International Capital is the sole sponsor and global coordinator for the offering.

HKG:3952

Asia10d ago

Wus Printed Circuit Kunshan to Absorb Subsidiary After 207 Million-Yuan Acquisition

Wus Printed Circuit Kunshan (SHE:002463) will absorb Kunshan Pujiang Warehousing Facilities, following its recent acquisition for 206.7 million yuan.The move aims to unify planning for capacity expansion at Kunshan Pujiang Warehousing Facilities' factory premises while streamlining management and cutting administrative costs, according to a Monday filing with the Shenzhen bourse.Shares of the printed circuit board manufacturer were up 2% in recent trade.

SHE:002463

Asia10d ago

Perenti's Contract With Barrick Boosts Revenue Visibility, Exposure to Top-Tier Mining Jurisdictions, Euroz Hartleys Says

Perenti's (ASX:PRN) roughly AU$275 million contract award with Barrick Mining provides further revenue visibility through fiscal 2030 while boosting the company's exposure to tier-one mining jurisdictions, Euroz Hartleys said in a Monday note.With a term of 45 months, the contract equates to annualized revenue of around AU$70 million to AU$75 million, and the associated AU$39 million growth capital expenditure requirement in fiscal 2027 is "modest" relative to Perenti's balance sheet and expected cash flow generation, the investment firm said.The award for underground mining services at Barrick's Fourmile project in Nevada, US, bolsters an already substantial work-in-hand position and pipeline, which stood at AU$5.8 billion and AU$18.6 billion, respectively, as of the first half of fiscal 2026, according to the equity research firm.Perenti "continues to trade on undemanding valuation metrics relative to its earnings outlook, with further growth opportunities available through contract mining, drilling utilization improvements and conversion of its existing project pipeline," Euroz Hartleys said.It maintained a buy recommendation on Perenti with a price target of AU$2.92.Perenti shares advanced nearly 5% in recent Monday trade.

ASX:PRN

Asia10d ago

Shanghai Able Digital Expands AI Collaboration With Alibaba Cloud

Shanghai Able Digital Science&Tech (HKG:2687) entered into a framework agreement with Alibaba's (HKG:9988) cloud unit to deepen cooperation in artificial intelligence and jointly develop industrial AI applications, according to a Monday Hong Kong bourse filing.The companies will collaborate on knowledge tokenization for large language models and the joint development of physical AI technologies.

HKG:2687HKG:9988

Asia10d ago

Jiangxi Institute of Biological Products Seeks Up to HK$473 Million in Hong Kong IPO

Jiangxi Institute of Biological Products (HKG:6915) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$473.2 million.The Chinese antiserum company is offering 36.2 million H-shares at an indicative price range of HK$9.33 to HK$13.06 per share, according to a Hong Kong bourse filing.The offering comprises 3.62 million shares for Hong Kong investors and 32.61 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by June 26, with allocation results due by June 29, ahead of the company's planned trading debut on June 30.Net proceeds will be used to expand the company's production and research and development capabilities.The company secured one cornerstone investor who committed to purchasing HK$50 million worth of IPO shares.China International Capital Corp., China Merchants Securities, Futu Securities International, Guosen Securities, CMBC Securities, and Arta Asset Management are serving as the underwriters for the offering.

HKG:6915

Asia10d ago

Taiyo Names President/CEO as Board Chairman

Chemical manufacturer Taiyo (TYO:4626) has appointed Hitoshi Saito as board chairman, effective June 20, according to a Tokyo bourse filing on Monday.Saito will retain his current roles as president and group CEO while taking on the additional chairmanship.

TYO:4626

Asia10d ago

Lifenet Gets Japan Airlines as New Major Shareholder Following KDDI Exit

Lifenet Insurance (TYO:7157) said Japan Airlines (TYO:9201) has become its major shareholder with 18.33% voting rights, after acquiring the stake from KDDI's (TYO:9433) subsidiary auFH.Both KDDI and auFH ceased to be associated companies as of March 31, following a director's resignation and the dissolution of their capital alliance, according to a Tokyo bourse filing on Monday.JAL's status was formalized on June 21, when its nominated director assumed office at the shareholders' meeting, coinciding with the completion of the share transfer.

TYO:7157TYO:9201TYO:9433

Asia10d ago

Tata Motors Bags Orders For Over 3,400 Electric Commercial Vehicles

Commercial vehicles manufacturer Tata Motors (NSE:TATAMOTORS, BOM:500570) has secured orders for over 3,400 electric commercial vehicles (eCV) across segments in India, according to a Sunday filing to the Indian stock exchanges.The orders include those for 2,000 small commercial vehicles and pick-ups, 900 trucks, and 500 buses across sectors such as cement, steel, mining, tarmac operations, and intra-city passenger transport.The company already has over 3,800 electric buses operational across multiple cities and over 17,000 Tata eSCVs on the road, the statement said.

BOM:500570NSE:TATAMOTORS

Asia10d ago

Dingtong Precision Metal to Raise 918 Million Yuan in Net Proceeds from Convertible Bond Issuance

Dongguan Dingtong Precision Metal (SHA:688668) plans to raise net proceeds of up to 918.4 million yuan from the issuance of 930 million yuan worth of convertible bonds, according to a Shanghai bourse filing on Monday.The proceeds will be used for the renovation of the parent company's headquarters, as well as the construction of a high-speed communication and liquid-cooling production base and a new energy BMS production base. Remaining funds will be used to supplement the Chinese communication connectors manufacturer's working capital.

SHA:688668

Asia10d ago

China National Chemical Engineering Logs 153 Billion Yuan in January-May Contracts

China National Chemical Engineering's (SHA:601117) contract value between January and May amounted to 153.1 billion yuan, according to a Shanghai bourse filing on Monday.The company signed 2,319 contracts under its engineering, industrial and services businesses.The Chinese oil and gas services provider's shares rose 2% during the morning trade.

SHA:601117

Asia10d ago

China Railway Completes 800 Million Yuan Share Buyback

China Railway (HKG:0390, SHA:601390) completed its 800 million yuan share repurchase program, according to a Monday Hong Kong bourse filing.The company repurchased 154.9 million A-shares through centralized bidding at prices ranging from 4.66 yuan to 5.75 yuan apiece, representing about 0.63% of its total share capital.

HKG:0390SHA:601390

Asia11d ago

Tokai Corp. to Acquire QLC Produce for 2.9 Billion Yen

Tokai Corp. (TYO:9729) has agreed to acquire all shares of QLC Produce from Idemitsu Kosan (TYO:5019) for approximately 2.91 billion yen, which could add 169 rehabilitation daycare stores to its elderly care operations.Post-acquisition, the group will operate 206 such stores nationwide, with annual sales of roughly 3.2 billion yen.The transaction is scheduled to be completed by July 31, with minimal immediate impact on consolidated earnings, according to a Tokyo bourse filing on Monday.

TYO:5019TYO:9729

Asia11d ago

Update: Credit Corp Group Ends Acquisition Talks With Humm Group; Humm Group Shares Dive 18%

(Updates to add stock movement in the headline and fourth paragraph)Credit Corp Group (ASX:CCP) has ceased discussions with Humm Group (ASX:HUM) regarding a potential acquisition, ending takeover talks after the parties were unable to agree on terms, according to a Monday filing with the Australian bourse.Credit Corp identified unresolved concerns during commercial due diligence and reduced its indicative offer, per the filing.Humm Group confirmed that a mutually acceptable transaction could not be reached, resulting in both parties ending discussions, the filing added.Credit Corp Group's shares rose past 1% in midday trade Monday, while Humm Group's shares were down 18%.

ASX:CCPASX:HUM

Asia11d ago

Market Chatter: BYD Denies Claims It Violated Hungary Environmental Rules

BYD (HKG:1211, SHE:002594) said its legal team would respond to allegations that it violated environmental rules in Hungary during the construction of its first European factory, Bloomberg reported, citing a company senior official.Executive Vice President Stella Li said the claims are false when asked about the allegations, according to the report.The Chinese carmaker is currently under investigation over claims that it moved toxic soil from its construction site in the southern city of Szeged to an outside location, Bloomberg said.BYD did not immediately respond to a request for comment from.(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.)

HKG:1211SHE:002594

Asia11d ago

Shenzhen Transsion Resubmits Hong Kong Listing Application

Shenzhen Transsion Holdings (SHA:688036) said it is proceeding with its listing application with the Hong Kong Stock Exchange, according to a Shanghai bourse filing on Monday.The Chinese smartphone manufacturer resubmitted its listing application on June 18 in accordance with the timetable for the proposed offering.The company's shares rose 2% during the morning trade.

SHA:688036

Asia11d ago

Market Chatter: Top Japanese Chip Equipment Makers' China Sales Decline 10%

The top five manufacturers of chipmaking equipment in Japan reported a 10% decline in Chinese sales in the fiscal year ended March 31, amid China's push to promote its own chipmaking equipment manufacturers, Nikkei Asia reported Sunday.The combined sales of Tokyo Electron (TYO:8035), Advantest (TYO:6857), Screen Holdings (TYO:7735), Disco (TYO:6146), and Kokusai Electric (TYO:6525) fell 12% in fiscal 2025 from fiscal 2024 to 1.47 trillion yen, the report said.Tokyo Electron's sales of chipmaking equipment in China for the January-March quarter accounted for 27% of the total compared with 34% a year earlier and from 50% in April-June 2024. Sales of the equipment in China for Tokyo Electron, Screen Holdings, and Kokusai declined nearly 20% on-year, led by weakness in front-end chipmaking equipment sales, it said.The market leveled off after Chinese chipmakers boosted investment ahead of escalating U.S.-China trade tensions, while increasing competition from domestic suppliers took a toll on Japanese, U.S., and European equipment makers' sales, the report said.Shares of Tokyo Electron and Advantest added nearly 1%, Disco's shares added over 3%, Kokusai Electric's shares rose over 2%, while those of Screen Holdings added nearly 4% in Monday morning trade.(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.)

Nikkei 225Shanghai CompositeTYO:6146TYO:6525TYO:6857TYO:7735TYO:8035

Asia11d ago

NZX Midday Sector Update: Non-Energy Mineral Stocks Jump, Consumer Durables Struggle

Non-energy mineral stocks advanced almost 3% at midday Monday.Fletcher Building (NZE:FBU, ASX:FBU) shares rose nearly 3% in recent trade.Meanwhile, the consumer durables sector fell almost 3%.KMD Brands (NZE:KMD, ASX:KMD) was down almost 3% in recent trade.

^NZ50ASX:FBUASX:KMDNZE:FBUNZE:KMD

Asia11d ago

Singapore Shares Muted at Open Amid Renewed US-Iran Tensions

Singapore shares were muted at the open on Monday after U.S. President Donald Trump issued a fresh warning on Sunday of possible strikes on Iran if Hezbollah continues its attacks on Israel.The Straits Times Index opened little changed at 5,189.140.The cautious sentiment came as high-level negotiations involving U.S. and Iranian officials wrapped up, with mediators Pakistan and Qatar saying talks had ended after discussions in Switzerland got off to a tense start, including objections from Tehran over Trump's public threats of military action.

^STI

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