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Fitch Upgrades China Hainan Rubber's Rating to BBB+, Outlook Stable

Fitch has upgraded China Hainan Rubber Industry Group's (SHA:601118) long-term issuer default rating to BBB+ from BBB, according to an official statement on Wednesday.The ratings agency has kept the outlook stable.The change in ratings reflects an upgrade of the company's parent, Hainan State Farms Investment Holdings Group, to BBB+ from BBB with a stable outlook, Fitch said.The agency rates China Hainan Rubber under the "stronger parent/weak subsidiary" approach in the parent and subsidiary linkage rating criteria. Therefore, it has equalized Hirub's ratings with Hainan State Farms.

SHA:601118

Asia16d ago

Asara Resources Says Drilling at Guinea Deposit Shows Gold Mineralization Strength, Continuity

Asara Resources (ASX:AS1) said 37 drill holes completed as part of the phase one drilling program at the Massan deposit within its Kada gold project in Guinea showed the strength and continuity of mineralization, according to a Thursday Australian bourse filing.The drilling comprised 5,625 meters of reverse circulation and diamond drilling. This included intercepts of 87 meters at 1.3 grams per tonne grade of gold, 22 meters at 2.8 g/t grade of gold, and 13 meters at 4.6 g/t grade of gold.Asara engaged TECT Geological Consulting to support the upcoming updated mineral resource estimate and refine regional exploration and drilling targets.

ASX:AS1

Asia16d ago

China Everbright Bank Raises 20 Billion Yuan to Replenish Capital

China Everbright Bank (SHA:601818) raised 20 billion yuan via the issue of perpetual bonds to replenish the bank's other Tier One capital.The bonds carry an initial coupon rate of 1.99% for the first five years, with rate resets every five years, according to a Wednesday filing with the Shanghai bourse.

SHA:601818

Asia16d ago

Sonic Healthcare's Fiscal 2026 EBITDA Forecast to Be AU$1.9 Billion, Jefferies Says

Sonic Healthcare (ASX:SHL) continues to expect earnings before interest, taxes, depreciation, and amortization (EBITDA) for fiscal year 2026 in the range of AU$1.87 billion to AU$1.95 billion at constant currency, compared with Jefferies' forecast of AU$1.9 billion, according to a Thursday note from Jefferies.Sonic completed its previously flagged sale and leaseback of its Brisbane Hub Laboratory, and further property sale and leaseback transactions are under consideration.The purchase price was AU$445 million, with rent, under a triple net lease arrangement, to begin at AU$25 million per annum. Sonic expects to book a fiscal year 2026 gain on sale before tax of around AU$100 million.The investment firm retained its hold rating on Sonic and raised the price target to AU$22.60 per share from AU$22.55 per share.

ASX:SHL

Asia16d ago

Beijing Enterprises Water Completes 1.2 Billion Yuan Medium-Term Bond Issue

Beijing Enterprises Water (HKG:0371) completed the issuance of 2026 medium-term bonds series 3 with a principal amount of 1.2 billion yuan, according to a Wednesday Hong Kong bourse filing.The five-year bonds will mature in June 2031 and carry a coupon rate of 1.82% per annum.Proceeds from the offering will be used to repay loans from financial institutions outside mainland China and pay bond interest in mainland China.

HKG:0371

Asia16d ago

Baige Online Seeks Up to HK$676 Million in Hong Kong IPO

Baige Online Digital Technology (HKG:2672) launched its Hong Kong initial public offering on Thursday, seeking to raise up to HK$676.2 million.The Chinese internet insurance intermediary is offering 33.3 million H-shares at an indicative price range of HK$15.60 to HK$20.28 per share, according to a Hong Kong bourse filing.The offering comprises 3.33 million shares for Hong Kong investors and 30 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by June 25, with allocation results due by June 26, ahead of the company's planned trading debut on June 29.Net proceeds will be used to expand the company's research and development capabilities, as well as to pursue strategic investments and acquisitions to support the business.The company secured two cornerstone investors who committed to purchasing HK$20 million worth of IPO shares.CMBC Securities, BOCI Asia, Huafu International Securities, ICBC International Securities, ABCI Securities, CMB International Capital, SPDB International Capital, Futu Securities International (Hong Kong), Tiger Brokers (HK) Global, Fortune (HK) Securities, uSmart Securities, Harmonia Capital, Guoyuan Securities Brokerage (Hong Kong), and Zircon Securities (HK) are serving as the underwriters for the offering.

HKG:2672

Asia16d ago

Commonwealth Bank of Australia Issues Nearly 26 Billion Yen Subordinated Fixed Reset Notes

Commonwealth Bank of Australia (ASX:CBA) has secured 25.6 billion yen through subordinated fixed reset notes due June 18, 2036, under its Euro Medium Term Note Program, according to a Thursday Australian bourse filing.The notes can be converted into ordinary CBA shares if a non-viability trigger event occurs, per the filing.The notes are not expected to materially affect the bank's financial position, but any conversion would increase shareholders' equity, subject to a volume-weighted average price-based maximum exchange cap, the filing added.

ASX:CBA

Asia16d ago

China Northern Rare Earth Raises 500 Million Yuan via Three-Year Bond Issue

China Northern Rare Earth (SHA:600111) raised 500 million yuan via the issue of three-year bonds due June 2029 carrying an interest rate of 1.75%.Proceeds will support operating capital needs, optimize debt structure, reduce financing costs and fund the company's high-quality development, according to a Thursday filing with the Shanghai bourse.China Merchants Bank serves as lead underwriter.

SHA:600111

Asia16d ago

Samsung Biologics Wins KRW835.7 Billion Biologics CMO Contract; Shares Jump 5%

Samsung Biologics (KRX:207940) secured a biologics contract manufacturing organization (CMO) contract from an undisclosed US-based pharmaceutical company, according to a Wednesday filing with the Korean Exchange.The contract, valued at 835.7 billion won, is valid until Dec. 31, 2031.Shares of Samsung Biologics added over 5% in recent trade on Thursday.

KRX:207940

Asia16d ago

Acrow to Acquire Industrial Access, Construction Services Firms for AU$55 Million

Acrow (ASX:ACF) agreed to acquire Ausgroup Industrial Services and Preston SuperDeck for AU$54.5 million in total, according to a Thursday filing with the Australian bourse.The company will acquire industrial services provider Ausgroup for an enterprise value of AU$27 million plus AU$2.5 million of capital expenditure, comprising cash consideration of about AU$22.8 million and scrip consideration of about AU$6.8 million.Preston SuperDeck, a retractable loading platform business, will be acquired for upfront cash consideration of AU$25 million.The deals are expected to deliver mid-single digit earnings per share accretion on an underlying, pro-forma basis, Acrow said.To finance the purchases, the company launched a fully-underwritten, dual-tranche placement to raise about AU$70 million through the issuance of 82.4 million new shares at AU$0.85 each. The first tranche is an unconditional placement of about 39 million shares to generate roughly AU$33.1 million, while the second tranche of about 43.4 million shares will aim to raise AU$36.9 million, subject to shareholder approval.Acrow will also undertake a share purchase plan targeting gross proceeds of up to AU$10 million at the same price as the placement.Additionally, the company increased the mid-point of its fiscal 2026 revenue guidance range by about 4%, and now expects revenue to come in between AU$330 million and AU$335 million. It also foresees fiscal 2026 underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) to be toward the lower end of its AU$80 million to AU$81 million outlook range.Assuming Preston SuperDeck is consolidated from July 1 and Ausgroup from Aug. 1, Acrow expects fiscal 2027 revenue to be between AU$405 million and AU$425 million, up from previous guidance of AU$335 million to AU$350 million. It also issued post-acquisition fiscal 2027 underlying EBITDA guidance of AU$102 million to AU$112 million, up from a previous range of AU$88 million to AU$98 million.

ASX:ACF

Asia16d ago

Benz Mining's Recent Results Continue to Show Scale Potential of Western Australia Deposit, Euroz Hartleys Says

Benz Mining's (ASX:BNZ) drilling results to date continued to show the scale potential at the Icon deposit, within the Glenburgh project in Western Australia, starting to de-risk the processing pathway, Euroz Hartleys said in a Wednesday note.With the receipt of cyanidation test work results, the company confirmed that gold sourced from Icon is free-milling with high recovery rates and low reagent consumption across all grade profiles tested.The company reported nearly 96% gold extraction within 24 hours from composite samples representative of the higher-grade core of the deposit, while mid-grade mineralization reached around 91% gold extraction.The results are broadly supportive of Euroz Hartleys' modelled 95% metallurgical recovery assumption, particularly for the higher-grade Icon core, which yielded almost 96% extraction within 24 hours, the note said.Consistency across the grade range suggests that Icon is a "clean, conventional, and free-milling" gold system, with potential for increased value from lower-grade halo material, according to the financial services firm.Euroz Hartleys reaffirmed its buy recommendation and AU$4.67 price target on Benz Mining.Benz Mining shares rose 9% in morning trade on Thursday.

ASX:BNZ

Asia16d ago

Lenovo to Issue $2 Billion Convertible Bonds Due 2033

Lenovo (HKG:0992) proposed to issue $2 billion of zero-coupon convertible bonds due 2033, according to a Thursday Hong Kong bourse filing.The bonds will be convertible into Lenovo shares at an initial conversion price of HK$36.70 per share.The company also plans to repurchase up to $675 million of its outstanding 2.50% convertible bonds due 2029.Net proceeds will be used to refinance existing debt, including the bond repurchase, fund share buybacks, and for general corporate purposes.Lenovo said it intends to conduct on-market share buybacks after the completion of the bond offering.

HKG:0992

Asia16d ago

Crealights Technology Seeks HK$1.5 Billion in Hong Kong Listing

Crealights Technology (HKG:1191) launched its Hong Kong initial public offering on Thursday, seeking to raise about HK$1.53 billion.The Beijing-based provider of optoelectronic interconnection products is offering 13.4 million H shares at HK$114.00 each, according to a Hong Kong bourse filing.The offering comprises 1.3 million shares for Hong Kong investors and 12.1 million shares for international investors, subject to reallocation and the over-allotment option.The company is expected to announce allocation results on June 26, ahead of its planned trading debut on June 29.Net proceeds will be used primarily to expand Crealights Technology's production capacity for optical transceivers and other optoelectronic interconnection products, and to enhance automation across its manufacturing lines.The company also plans to use the funds to support research and development of new products and technologies, business promotion and market expansion, as well as for working capital and general corporate purposes.The offering attracted six cornerstone investors, including JSC International Investment Fund, Winwin Technology, and Kingsoft Cloud Network, which committed a combined HK$763.4 million.The investors agreed to subscribe for 6.7 million shares, representing 49.9% of the offering, according to the prospectus.Huatai Financial Holdings (Hong Kong) is acting as sole sponsor, overall coordinator, sponsor-overall coordinator, global coordinator and bookrunner for the offering, according to the prospectus.

HKG:1191

Asia16d ago

Inflation, Natural Disasters, Taxes Drive Cost of Australian Home Insurance, Jefferies Says

Inflation, natural disasters, and government taxes are driving up the cost of home insurance in Australia, resulting in insurers being accused of gouging, Jefferies said in a Wednesday note.Roughly 1.6 million households experience home insurance affordability stress, up 50% in just two years, spending 9.6 weeks of gross income to pay for home insurance, which is seven times higher than the non-stressed average.Government taxation is the second-largest component of Australian home insurance premiums, ranking just below natural disaster risk, with state and territory governments collecting about AU$8.90 billion in insurance taxes during fiscal year 2024-2025. The amount represents AU$1.6 billion more than the entire home insurance industry made in net profit after taxes in the same year, Jefferies said.With premium spikes in high-flood zones exceeding AU$7,000 to AU$30,000 a year, 70% of high-risk households with below-median incomes are impacted, resulting in 80% of high-risk properties completely uninsured for flood compared with a 60% insurance rate nationwide.Jefferies reaffirmed its buy rating and AU$8.75 price target on Insurance Australia Group (ASX:IAG), and also maintained its buy rating AU$26.25 price target on QBE Insurance Group (ASX:QBE).The firm has a hold rating on Suncorp Group (ASX:SUN) and an AU$18.40 price target.QBE Insurance Group shares rose 1% in morning trade on Thursday.

ASX:IAGASX:QBEASX:SUN

Asia16d ago

Market Chatter: Nippon Steel Vice Chair Forecasts Surging US Steel Profits

Nippon Steel (TYO:5401) Vice Chairman Takahiro Mori expects a strong U.S. steel market, driven by steady demand and import tariffs, Reuters reported Wednesday, citing an interview with the executive.These factors could push U.S. Steel's earnings beyond current estimates, Mori reportedly said.Mori expects U.S. Steel to generate more than 100 billion yen in profit this year, with long-term annual earnings between 300 billion yen and 400 billion yen, the report said.Nippon Steel completed its acquisition of U.S. Steel for $14.9 billion in June 2025, following an 18-month-long regulatory review.Shares of Nippon Steel rose over 1% in recent 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.)

TYO:5401

Asia16d ago

Gold Miners' Shares Fall as Gold Weakens on US Fed Policy Outlook

Shares of Northern Star Resources (ASX:NST) and Ora Banda Mining (ASX:OBM) fell around 2% and 5%, respectively, in Thursday trade, tracking weakness in gold prices after the US Federal Reserve held rates steady but signaled the possibility of further tightening later this year.Spot gold fell 0.7% to $4,299.89 an ounce.

ASX:NSTASX:OBM

Asia16d ago

KGL Resources Receives $16 Million First Tranche Payment Under Wheaton Precious Metals Agreement; Shares Up 11%

KGL Resources (ASX:KGL) received payment of the first tranche of $16 million under a precious metals purchase agreement with Wheaton Precious Metals, comprising upfront consideration of $275 million and an additional contingent deposit of $25 million under a cost overrun facility, according to a Thursday Australian bourse filing.The company said it had a cash balance of about AU$5.5 million as of May 31, with available cash of about AU$28 million following receipt of the first tranche of the early deposit, the filing added.The company's shares rose past 11% in recent Thursday trade.

ASX:KGL

Asia16d ago

Alebund Pharmaceuticals Launches HK$1.3 Billion Hong Kong IPO

Alebund Pharmaceuticals (HKG:9637) launched its Hong Kong initial public offering on Thursday, seeking to raise about HK$1.28 billion.The China-based biopharmaceutical company is offering 56.8 million H shares at HK$22.60 each, according to a Hong Kong bourse filing.The offering comprises 5.7 million shares for Hong Kong investors and 51.1 million shares for international investors, subject to reallocation and the over-allotment option.The company is expected to announce allocation results on June 26, ahead of its planned trading debut on June 29.Net proceeds will be used primarily to fund the clinical development and regulatory approval of Alebund Pharmaceuticals' pipeline candidates, including AP301, AP306, AP303, and AP308.The company also plans to use the funds to advance preclinical research, expand manufacturing capacity, support future commercialization efforts, and provide working capital and general corporate purposes.The listing has 11 cornerstone investors, including GIC, Loomis Sayles, RTW Funds, Tencent, and Cormorant, which committed to subscribing to $81.5 million worth of shares.The investors agreed to take up 28.3 million shares, or 49.8% of the offering, according to the prospectus.Jefferies Hong Kong, Merrill Lynch (Asia Pacific) and Huatai Financial Holdings (Hong Kong) are acting as joint sponsors, sponsor-overall coordinators, joint representatives, overall coordinators, joint global coordinators, joint bookrunners and joint lead managers.CLSA is serving as a joint representative, overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager, while BOCI Asia is acting as an overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager.

HKG:9637

Asia16d ago

BlinkLab Secures US Patent for Remote Neurobehavioral Testing Platform

BlinkLab (ASX:BB1) has been granted a US patent covering its system for remote neurobehavioral testing using audiovisual stimuli, strengthening the company's intellectual property position for its smartphone-based digital biomarker platform, according to a Thursday Australian bourse filing.The company holds an exclusive global license to technology that uses audiovisual stimuli to measure conditioned eyeblink responses and prepulse inhibition for diagnosing autism spectrum disorder and other neurodevelopmental conditions, per the filing.The patent remains valid until November 2041, subject to the payment of maintenance fees, the filing added.

ASX:BB1

Asia16d ago

Actinogen Medical Receives Independent DMC Positive Recommendation for Phase 2b/3 Alzheimer's Disease Trial, Shares Jump 10%

Actinogen Medical (ASX:ACW) received a positive recommendation from the XanaMIA phase 2b/3 Alzheimer's disease trial's independent data monitoring committee (DMC) to continue the trial without amendment, according to a Thursday Australian bourse filing.The committee comprises independent clinical and statistical experts who are not connected to the day-to-day conduct or analysis of the trial.The primary endpoint of the trial is the internationally recognized Clinical Dementia Rating scale-Sum of Boxes. Oral Xanamem 10 milligrams daily doses continue to demonstrate a promising safety profile in patients with mild to moderate Alzheimer's disease treated for up to 36 weeks in the trial, it added.Its shares jumped 10% in recent trading on Thursday.

ASX:ACW

Showing 3101-3120 of 16363

Asia16d ago

Acrow to Acquire Industrial Access, Construction Services Firms for AU$55 Million

ASX:ACF