From the Bloomberg: Bank of China Ltd., the nation’s second-biggest lender, will raise 20 billion yuan ($2.5 billion) in the country’s largest domestic share sale. The bank is selling 6.49 billion local-currency shares for 3.08 yuan each, it said in a statement published in the Shanghai Securities News today. The price is in the middle […]
Read MoreFrom Bloomberg: China may pay less to sell 20-year bonds than it did a year ago as economic growth spurs savings, giving banks more money to invest in local debt securities. The government plans to sell 30 billion yuan ($3.75 billion) of bonds maturing in 2026 this week. The 20-year bonds sold in May 2005 […]
Read MoreFrom the AP: China’s steel mills have agreed to a 19 percent price increase for iron ore following extended negotiations with the world’s three biggest mining companies, the government said Wednesday. China’s biggest steelmaker, Baosteel Group , agreed Tuesday with Australia’s BHP Billiton Ltd., the official Xinhua News Agency reported, citing an unnamed source at […]
Read MoreFrom the Financial Times: The head of one of the Beijing city government’s largest and most powerful companies has been detained on suspicion of corruption in a scandal that has already toppled one senior official in the capital. Liu Xiaoguang is the general manager of the state-owned Beijing Capital Group and also the chairman of […]
Read MoreFrom the Financial Times: SK Telecom Co., South Korea’s largest mobile-phone operator, will buy as much as $1 billion of bonds convertible into a 6.7 percent stake in China Unicom Ltd. to tap the world’s biggest wireless market by subscribers. China Unicom, the nation’s No. 2 cell-phone operator, will cooperate with SK Telecom on handsets, […]
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