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Star Sports Medicine Soars 192% in Hong Kong Trading Debut

Star Sports Medicine's (HKG:1609) shares opened 192.4% above their initial public offering price in a stellar Hong Kong debut Tuesday morning.The China-based medical device company opened at HK$288 per share, well above the offer price of HK$98.50.

HKG:1609

Asia59d ago

Impact Therapeutics Launches Up to HK$913 Million Hong Kong IPO

Impact Therapeutics (HKG:7630) launched its Hong Kong initial public offering on Tuesday, seeking to raise up to about HK$913 million from the deal.The China-based biotechnology company is offering 42 million shares at an indicative maximum price of HK$21.75 per share, according to a Hong Kong bourse filing.The offering comprises 4.2 million shares for Hong Kong investors and 37.8 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by May 11, with allocation results due by May 12, ahead of the company's planned trading debut on May 13.Net proceeds will be used mainly to fund the clinical development, regulatory approval, and commercialization of its core product, senaparib, as well as support the development of key pipeline products.The funds will also be used for research and development of other pipeline assets, expansion of R&D platforms, and for working capital and general corporate purposes.Goldman Sachs (Asia) and China International Capital Corporation Hong Kong Securities are acting as joint sponsors.Goldman Sachs (Asia) and China International Capital Corporation Hong Kong Securities are serving as overall coordinators and are also acting as joint bookrunners and joint lead managers.CMB International Capital is acting as a joint global coordinator and joint lead manager, while Tiger Brokers (HK) Global is acting as a joint bookrunner and joint lead manager.

HKG:7630

Asia59d ago

Market Chatter: SK Hynix Shares Gain 13% After US Tech Giants Signal No Slowdown in AI Spending

Shares of SK Hynix (KRX:000660) closed nearly 13% higher on Monday, ending trading at a new high of 1,447,000 won per share, after all four of ⁠the US tech giants indicated that spending on AI will not slow down, Reuters said in a same-day report.Total AI spending is estimated to surpass $700 billion in 2026, up from about $600 billion previously, as Microsoft and Meta announced larger-than-expected capital expenditure plans, which were partly led by higher memory chip prices, while maintaining confidence in their investments, the report said.In addition, Bank of Korea Senior Deputy Governor Ryoo Sang-dai said that the current chip market boom is likely to last longer as compared to past cycles, echoing similar outlooks from Samsung Electronics (KRX:005930) and SK Hynix during their earnings calls in April, it said.(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.)

KRX:000660KRX:005930

Asia59d ago

Metis TechBio Seeks About HK$2.1 Billion in Hong Kong IPO

Metis TechBio (HKG:7666) launched its Hong Kong initial public offering on Tuesday, seeking to raise about HK$2.11 billion from the deal.The China-based AI-driven nanotechnology company is offering 201.2 million shares at HK$10.50 per share, according to a Hong Kong bourse filing.The offering comprises 10.1 million shares for Hong Kong investors and 191.2 million shares for international investors, subject to reallocation and the overallotment option.Allocation results are due by May 12, ahead of the company's planned trading debut on May 13.Net proceeds will be used mainly to fund research and development of AI infrastructure and nanomaterial platforms, as well as support clinical trials of pipeline products.The funds will also be used to expand into animal health and longevity solutions, build global operations, and for working capital and general corporate purposes.Jefferies Hong Kong, Deutsche Securities Asia, and CITIC Securities (Hong Kong) are acting as joint sponsors.Jefferies Hong Kong, Deutsche Bank AG (Hong Kong Branch), and CLSA are serving as overall coordinators and are also acting as joint bookrunners and joint lead managers, alongside CMB International Capital.Futu Securities International (Hong Kong) is acting as a joint bookrunner and joint lead manager.

HKG:7666

Asia59d ago

Budweiser APAC's Q1 2026 Profit Falls on Flat Revenue

Budweiser Brewing Company APAC (HKG:1876) recorded $226 million in attributable profit for the first quarter of 2026, down from $234 million a year earlier, according to a Hong Kong bourse filing Tuesday.Earnings per share fell to $1.68 from $1.76 in the prior year, well above analysts' forecast of $0.02 in a Visible Alpha survey.Revenue inched down 0.7% to $1.49 billion from $1.46 billion a year ago, beating the Visible Alpha estimate of $1.44 billion.Revenue per hectoliter dropped 0.8% in the first quarter due to additional investment in China.

HKG:1876

Asia59d ago

Dexus Says Office Portfolio Occupancy Improved in March Quarter

Dexus (ASX:DXS) said its office portfolio occupancy improved by 90 basis points during the March quarter to just over 93%, above the market average of roughly 85%, after leasing agreements in Melbourne and Sydney, according to a Tuesday filing with the Australian bourse.The company also said its industrial portfolio occupancy rate is high at nearly 97%, but remains more than 7% under-rented, creating an opportunity to boost income by resetting rents on upcoming lease expiries, per the filing.Dexus reiterated its forecast for adjusted funds from operations of AU$0.445 to AU$0.455 per security and distributions of AU$0.37 per security for the 12 months through June.The company's shares fell past 2% in recent Tuesday trade.

ASX:DXS

Asia59d ago

New Zealand High Court Rules Against ANZ New Zealand in Class Action Suit

ANZ Group Holdings (ASX:ANZ, NZE:ANZ) said the High Court of New Zealand on Monday ruled that ANZ Bank New Zealand breached the Credit Contracts and Consumer Finance Act 2003 in class action proceedings served in September 2021, according to Tuesday filings with the Australian and New Zealand bourses.The court held that the representative plaintiffs are entitled to payment of the costs of borrowing for the period of breach, or NZ$32,728.42. The bank is considering how this judgment may apply to other members of the class. It expects the maximum potential liability for costs of borrowing arising from this decision to be around NZ$125 million.The bank is mulling its next steps, including filing an appeal.

ASX:ANZNZE:ANZ

Asia59d ago

Magellan Financial Appoints New Manager for Global Equity Funds, Cuts Fees; Shares Down 7%

Magellan Financial Group (ASX:MFG) appointed Vinva Investment Management as the investment manager of certain global equity funds, according to a Tuesday filing with the Australian bourse.The investment strategy for the Magellan Global Fund Open Class Units Active ETF and the Magellan Global Fund Hedged, which had about AU$5.3 billion of assets under management at the close of April, will be changed to the Vinva Global Alpha Strategy.Vinva Investment Management will be the investment manager for the funds, while Magellan Asset Management will retain responsibility for distribution, per the filing.Effective immediately, the company is reducing the management fees for the funds to 0.89% per year from 1.35%, while also eliminating performance fees, to boost the funds' value proposition.The investment strategy change and Vinva's appointment are expected to take effect in early June, subject to approvals from the Australian Securities Exchange. Following the changes, which aim to align the funds with evolving investor preferences, Magellan expects an average fee reduction of about 55 basis points across the funds "with continued risk of outflow over the short-medium term," it said.The company also expects direct cost savings of about AU$7 million per year due to a reduction in the size of the global equities team and savings in fund administration costs, it added.Additionally, Magellan Financial plans to close the Magellan Global Equities Fund (ASX:MHG), which had about AU$94 million in assets under management as of April 30.Magellan noted that it has an existing distribution partnership with Vinva, including a 28% minority stake in Vinva's parent company.Shares of Magellan Financial fell 7% in recent Tuesday trade.

ASX:MFG

Asia59d ago

Catalyst Metals Completes Mining at Western Australia Open Pit; Shares Down 6%

Catalyst Metals (ASX:CYL) completed mining at the Trident open pit within the Plutonic Gold Belt in Western Australia, allowing for the establishment of a decline and the development of an underground mine, according to a Tuesday filing with the Australian bourse.Stockpiles generated from the open pit will be transported and blended through the Plutonic processing plant over the remainder of the year, the filing said.First ore from the underground mine is expected in 2027, per the filing.Shares fell 6% in morning trade on Tuesday.

ASX:CYL

Asia59d ago

Ventia Services Group Secures Victorian Road Maintenance Contracts Across Grampians, Eastern Metropolitan Regions

Ventia Services Group (ASX:VNT, NZE:VNT) has been awarded new contracts by the Victorian Department of Transport and Planning to deliver road maintenance services across the Grampians and Eastern Metropolitan regions under the Victorian road maintenance contract model, according to a Tuesday filing with the Australian and New Zealand bourses.The contracts have an estimated combined value of about AU$340 million over a four-year base term, covering routine maintenance, planned maintenance programs, and minor capital works, subject to government budget approvals and road priorities, per the filing.The agreements also provide extension options of up to two additional years for Grampians and up to four additional years for Eastern Metropolitan, the filing said.The company will provide comprehensive road network services, including inspections, hazard and defect rectification, emergency response, and minor capital works across rural and metropolitan arterial roads, starting July 1, the filing added.The company's shares on the Australian and New Zealand exchanges rose by around 5% and 2%, respectively, in Tuesday's trade.

ASX:VNTNZE:VNT

Asia59d ago

Alcoa Extends $1.25 Billion Revolving Credit Facility to 2028

Alcoa (ASX:AAI), along with its subsidiary Alcoa Nederland Holding and other affiliates, amended its existing $1.25 billion revolving credit agreement with a syndicate of lenders, according to a Tuesday Australian bourse filing.The amendment extends the facility's maturity to June 27, 2028, and removes select pricing components, including the secured overnight financing rate credit spread adjustment and sustainability-linked rate and fee adjustments, the filing said.The company made a one-time payment of an amendment fee equal to about 0.1% of each participating lender's commitment to the lenders that agreed to the amendment, the filing added.Alcoa's shares shed 1% in recent Tuesday trade.

ASX:AAI

Asia59d ago

Southern Cross Gold Consolidated Awards Pybar Mining Exploration Decline Contract for Victoria Project

Southern Cross Gold Consolidated (ASX:SX2) awarded Pybar Mining Services an underground exploration decline contract for the Sunday Creek gold-antimony project in Victoria following a competitive tender, according to a Tuesday filing with the Australian bourse.The scope of the contract includes box-cut ground support, portal establishment, primary decline and support services installation, and initial lateral development, including diamond drilling platforms, over a period of seven months.Once completed, the decline will enable the current 11 surface rigs at the project to be expanded to 24 surface and underground rigs, per the filing.

ASX:SX2

Asia59d ago

ASX Preview: Australian Shares Set to Fall as US-Iran Tensions Escalate; Westpac Banking Posts Higher Fiscal H1 Adjusted Earnings, Net Operating Income

Australian shares are poised to fall on Tuesday after renewed US-Iran hostilities and attacks around the Strait of Hormuz rattled global markets, sending oil prices higher and heightening fears over disruption to a key energy shipping route.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.4%, 0.2%, and 1.1%, respectively.In the macroeconomy, Australian services activity edged back into expansion in April as firms increased hiring and output, but persistent inflation driven by higher fuel costs linked to Middle East tensions continued to weigh on new orders and keep business sentiment subdued, according to a monthly survey by S&P Global released Tuesday.Reserve Bank of Australia's monetary policy decision is due at 2:30 pm Sydney time.In corporate news, Westpac Banking (ASX:WBC) reported Tuesday fiscal first-half earnings of AU$1.014 per share excluding notable items on net operating income of AU$11.28 billion, compared with earnings of AU$0.998 on net operating income of AU$10.99 billion a year earlier.Regis Resources (ASX:RRL) agreed to acquire Vault Minerals (ASX:VAU) in a merger of equals to create a major gold producer with a pro forma market capitalization of about AU$10.7 billion.Australia's benchmark index fell 0.4% or 32.7 points to close at 8,697.10 on Monday.

ASX 200ASX:RRLASX:VAUASX:WBC

Asia59d ago

Wesfarmers Commits AU$100 Million Equity to Form 50:50 JV With Built Group

Wesfarmers (ASX:WES) has agreed to enter a 50:50 joint venture with Built Group to establish Built Living, a new Australian business dedicated to delivering residential apartments at scale through advanced manufacturing, with Wesfarmers initially committing up to AU$100 million of equity, according to a Tuesday Australian bourse filing.The company said Built Living will use Design for Manufacture and Assembly (DfMA) methods, aiming to deliver apartments at about 20% lower cost and 50% faster than traditional construction, with a facility to be established in Western Australia expected to support the delivery of more than 2,000 apartments annually once completed.Construction of the facility is expected to commence in the second half, with the Western Australian Government supporting the establishment through a long-term lease of land in the Neerabup Automation and Robotics Precinct and direct support for facility development, the filing added.The company added that a portion of the facility's annual capacity will be used for government-backed housing projects and the state's social infrastructure pipeline, with the establishment of Built Living also expected to create growth opportunities for Wesfarmers' existing businesses, including through supply arrangements with Bunnings' trade business.Built Living will operate as a standalone company with equal board representation for Wesfarmers and Built, once Wesfarmers has fully deployed its initial AU$100 million commitment, the company said.The company added that the investment is not expected to have a material impact on its earnings in the current financial year.

ASX:WES

Asia59d ago

PMET Resources Advances Canada Project Permitting, Feasibility Study

PMET Resources (ASX:PMT) said its Environmental and Social Impact Assessment (ESIA) for the Shaakichiuwaanaan project in Canada was submitted to federal and provincial authorities on March 31, with the federal ESIA deemed complete by the Impact Assessment Agency of Canada (IAAC), according to a Tuesday Australian bourse filing.The first statutory public consultation period is now underway, closing May 28, the filing added.The company said an updated CV5 lithium-tantalum feasibility study and a parallel lithium-caesium-tantalum preliminary economic assessment (PEA) and scoping study on the broader project are on track, targeting completion in the fourth quarter, the filing added.The company added that a CV5 bulk sample application of about 50,000 tonnes is under review with feedback expected from COMEX in the second quarter, with project engineering continuing to advance toward shovel-ready status by the end of the year, while a Hydro Quebec power application has been submitted with assessment in progress.

ASX:PMT

Asia59d ago

Lottery Secures Agreement for 40-Year License Extension

Lottery (ASX:TLC) secured an agreement with the Victorian State Government for a 40-year extension of the public lottery license, according to a Tuesday filing with the Australian bourse.The license is extended to June 30, 2068, with the company paying an upfront premium of AU$1.15 billion to the state, the filing said.Historically, the license has been offered on 10-year terms and was set to expire on June 30, 2028, per the filing.

ASX:TLC

Asia59d ago

Gentrack Group Cuts Fiscal 2026 Revenue Guidance; Plans Buyback; Kiwi Shares Fall 22%

Gentrack Group (NZE:GTK, ASX:GTK) said it now expects fiscal year 2026 revenue of between NZ$229 million and NZ$238 million, lower than its previous guidance, according to a Tuesday filing with the Australian and New Zealand bourses.The company expects fiscal year 2026 recurring revenue to grow by over 10% to around NZ$174 million. It also expects fiscal first-half revenue of around NZ$110 million, of which roughly NZ$85 million would be recurring, per the filing.Gentrack said it expects fiscal year 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA) of NZ$13.5 million to NZ$20 million, and fiscal first half EBITDA of about NZ$7.8 million, both excluding acquisition costs.The guidance comes as the company has decided "to prioritize growth and global leadership over short-term EBITDA" and continues to invest in international expansion and product development, it said.The company maintained its medium-term target of a more than 15% compound annual growth rate for revenue.Additionally, after the release of fiscal first-half results, Gentrack's board plans to launch an on-market share buyback for up to 5% of the company's issued shares, per the filing.The company's Kiwi shares fell 22% in recent Tuesday trade on the New Zealand bourse.

ASX:GTKNZE:GTK

Asia59d ago

ALS Flags Unauthorized Access to Its IT Systems

ALS (ASX:ALQ) reported a cyber incident involving unauthorized third-party access to some of its information technology (IT) systems, temporarily disrupting parts of its operations, according to a Tuesday Australian bourse filing.The company, with support from external cybersecurity specialists, has implemented containment measures in line with incident response procedures, restoring most operations while continuing targeted remediation in affected areas, per the filing.The company has informed the Australian Cyber Security Center and is investigating the full extent of the breach and its potential data impact, the filing added.

ASX:ALQ

Asia59d ago

Dexus Secures JV With Boral for Major Ravenhall Logistics Precinct in Melbourne

Dexus (ASX:DXS) has entered a joint venture (JV) with Boral (ASX:BLD) to develop a large-scale logistics precinct in Ravenhall, Melbourne's western corridor, spanning 630 hectares and targeting up to 2.5 million square meters of lettable space, subject to rezoning and regulatory approvals, according to a Tuesday Australian bourse filing.The JV structure gives the company and other capital partners a combined 50% stake, while Boral retains the remaining 50%, with the project developed in staged superlots and supported by substantial third-party capital to enhance capital efficiency, per the filing.The company will oversee rezoning, development, and management, with limited short-term financial impact, while management fees will begin as each stage of investment is completed, the filing added.

ASX:BLDASX:DXS

Asia59d ago

Regis Resources to Acquire Vault Minerals in Merger of Equals

Regis Resources (ASX:RRL) agreed to acquire Vault Minerals (ASX:VAU) in a merger of equals to create a major gold producer with a pro forma market capitalization of about AU$10.7 billion, according to a Tuesday joint filing with the Australian bourse.Under the proposed deal, Vault shareholders will receive 0.6947 shares in Regis for each Vault share owned. Regis shareholders will own about 51% of the merged company and Vault shareholders the remaining 49%, per the filing.The combined company will be listed in Australia and is expected to produce more than 700,000 ounces of gold per year through five operating assets across Western Australia.Regis CEO Jim Beyer will be the CEO of the combined firm, with Anthony Rechichi as its chief financial officer and Michael Holmes as chief operating officer.The merger partners said they see opportunity to realize more than AU$500 million of corporate tax benefits and reduce the combined firm's cost of capital.The deal is subject to certain conditions, including court, regulatory, and Vault shareholder approvals, and carries a break fee of about AU$50.7 million.

ASX:RRLASX:VAU

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