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Alibaba Receives HKEX Nod for Spin Off, Shenzen REIT Listing of Warehouse Park Assets

Alibaba Group (HKG:9988) received approval from the Hong Kong Exchange to spin off certain infrastructure assets into a real estate investment trust for listing on the Shenzhen Stock Exchange, according to a Monday disclosure.The underlying asset to be held by the proposed CICC Cainiao Logistics Warehouse Infrastructure REIT will be Jiaxing Park, a logistics and warehouse infrastructure park in Zhejiang province.Alibaba also obtained a waiver from HKEX, exempting it from distributing units in the REIT to existing shareholders. The company said it could not meet the requirement to either distribute units or offer preferential allocation to shareholders due to legal restrictions in mainland China.The spinoff remains subject to regulatory approval in China, the bourse filing stated.

$HKG:9988

Asia23h ago

China Hongqiao Group Eyes 10.2 Billion Yuan in Offshore Debt Offering

China Hongqiao Group (HKG:1378) plans to raise 10.2 billion yuan via an offshore convertible bond issue, according to a Hong Kong bourse filing Tuesday.The zero-coupon bonds will convert into shares of the company at an initial rate of HK$43.90 per share, representing a premium of about 25.3% to the company's closing price on Monday.Assuming full conversion, the shares to be issued would amount to 266.6 million and represent 2.7% of the company's existing share capital and 2.6% on an enlarged basis.Proceeds to be raised will be used for refinancing existing debt and the purchase of raw materials.The firm simultaneously plans to purchase 11.3 million shares in a concurrent share buyback at HK$33.99 apiece.

$HKG:1378

International23h ago

Australian Consumer Confidence Rises on Improved Economic Outlook

The ANZ-Roy Morgan Australian consumer confidence rose 3.5 points to 67.8 in the week of April 20 to April 26, ANZ reported Tuesday.The four-week moving average rose 2.3 points to 64.7 points.Australian consumer confidence improved in the reported week, reaching its highest level since mid-March, with gains across all sub-indices led by stronger views on economic conditions, although it remains near historic lows, according to ANZ economist Sophia Angala.Headline inflation is forecast to have risen 1.4% quarter-on-quarter, partly due to higher fuel prices in March, and the Reserve Bank of Australia is still expected to lift the cash rate by 25 basis points at its May meeting, Angala added.Weekly inflation expectations fell to 6.6% from 7.1%, while the current financial condition indicator for 12 months rose 4.6 points to 63. The future financial conditions for the next 12 months inched up to 75.4 points from 75.3.Short-term economic confidence for the next year rose 4.7 points to 56, while medium-term economic confidence for the next five years increased to 78.3 points from 72.9.The "time to buy a major household item" subcategory rose 2.4 points to 66.1.

$^AXJO

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Financial News · Live Terminal

Alibaba Receives HKEX Nod for Spin Off, Shenzen REIT Listing of Warehouse Park Assets

China Hongqiao Group Eyes 10.2 Billion Yuan in Offshore Debt Offering

Australian Consumer Confidence Rises on Improved Economic Outlook

Alibaba Receives HKEX Nod for Spin Off, Shenzen REIT Listing of Warehouse Park Assets

China Hongqiao Group Eyes 10.2 Billion Yuan in Offshore Debt Offering

Australian Consumer Confidence Rises on Improved Economic Outlook

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