Diaries are a big seller for China Print Power. Photo: CPPCHINA PRINT POWER eyes 108 mln hkd from placingChina Print Power (HK: 6828), which is dual-listed in Singapore and Hong Kong, entered into an agreement on Tuesday (17 Dec) to place 41.8 million new shares, representing 16.66% of the enlarged share capital.
The placing price was 2.6 hkd per share, representing a discount of 9.09% against that day’s closing price.
China Print Power (CPP) aims to raise 108 million hkd, which is expected to be used for potential acquisitions and general working capital.
CPP recently 2.80 hkdChina Print Power last month saw wholly-owned subsidiary Goldlink Capital Ltd acquire a natural gas asset for 55 million hkd.Goldlink will own 60% of the entire issued share capital of a newly-formed joint venture whose principal assets are a compressed natural gas (CNG) main station and a CNG satellite station.
Bocom: KUNLUN chairman resignation brings ‘uncertainty’
Bocom International said the recent surprise resignation of the chairman and executive director of Kunlun Energy (HK: 135) might cause some share price volatility.
“Chairman Wen Qingshan plans to resign in less than four months which will add more uncertainty and add pressure to short-term share price performance,” Bocom said.
Kunlun enjoys a broad client base for its gas products.Image: KunlunMr. Wen only came to the post after the previous Chairman and Executive Director Li Hualin resigned under anti-graft investigations on August 27, less than four months ago.
“The end of the short-term appointment came as a surprise to the market.
“Kunlun’s share price has performed well since the end of September along with other gas distributors, rising more than 30%, as the anti-corruption probe seemed to have ended at the end of August,” Bocom said.
The research house added that the latest management change will add uncertainty for potential investors
This is despite the fact that the stock is currently trading at a fairly low 13.5x 2014 PE, below the 18x average.