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Yantai, Shandong Province-based Chinese drug-maker Luye Pharma Group has completed a Hong Kong IPO, raising a total of US$764 million by selling 999.6 million shares at HK$5.92 per share, according to an official announcement. The final IPO size is largely inline with previous estimates when the company was reported to plan for a US$750 million […]

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Yantai, Shandong Province-based Chinese drug-maker Luye Pharma Group has completed a Hong Kong IPO, raising a total of US$764 million by selling 999.6 million shares at HK$5.92 per share, according to an official announcement. The final IPO size is largely inline with previous estimates when the company was reported to plan for a US$750 million […]

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Private sector debt for Asia has risen to 156% of GDP, up seven percentage points since April 2013, and 45 percentage points since the end of 2008. The risk of an outright de-leveraging scenario within the next year or two has increased for Asia, says a report by Duncan Wooldridge, chief economist for Asia Pacific […]

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Global private equity firm TPG Capital has entered into the Asian hedge fund space with an acquisition of an undisclosed stake in Hong Kong-based HS Group Ltd., which backs start-up hedge funds in Asia, according to a company announcement. TPG Capital's co-head of Asia Tim Dattels is joining the advisory board of the HS Group. […]

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Hong Kong, July 4, 2014 /ChinaNewswire.com – Xinwengao.com/ – On December 11-12, 2014, leading law firms, senior management and representatives of relevant law enforcement bodies will meet in Hong Kong to discuss the future of anti-corruption and compliance in and across the Asia Pacific region at the 2nd Anti-Corruption Compliance Asia Pacific Summit 2014. This … >>>


This press release has been syndicated from China Newswire – Social Media Content Marketing Press Releases For China

The reversal of sentiment is clear. IPOs of Chinese companies in the U.S. are expected to be around 20 to 30 this year, up from two in 2012. Privatizations deals, where publicly listed Chinese companies are bought out and taken private, dropped from 24 in 2012 to six so far this year. There are many […]

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Secretary for Justice Rimsky Yuen has met with Macau's Secretary for Administration & Justice Florinda Chan to discuss reciprocal juridical assistance issues between Hong Kong and Macau, including the surrender of fugitives.

 

Briefing reporters after the meeting today, Mr Yuen said experts from the two places have already held two meetings since last year and progress has been satisfactory.

 

The work has not been easy because the cities' legal systems are different, he said, adding further announcements will be made when substantial progress has been made.

Police have arrested five people involved in organising the July 1 public procession, for ignoring Police directions and obstructing officers.

 

The two men and three women are aged 22 to 60.

 

The 60-year-old man was also arrested for leaving a vehicle without stopping its engine, while a 40-year-old woman was also arrested for giving false information to Police.

 

It is believed they caused the lead vehicle of the procession to move forward at a very low speed, disregarding repeated advice and warnings by Police. The vehicle stopped for about 25 minutes on a section of Hennessy Road near Fenwick Street.

 

They also used loudhailers to incite other participants to stop and block the road in an attempt to force Police to open the eastbound carriageway of Yee Wo Street.

 

Police said stopping the vehicle suddenly or driving it at such low speeds posed a serious threat to public safety and order, as there were tens of thousands of participants following the lead vehicle.

 

It also seriously affected the procession’s advance, leading to the possible occurrence of accidents and chaos, it added.

The Home Affairs Department today launched a consultation on the Review on the Hotel & Guesthouse Accommodation Ordinance to strengthen enforcement actions against unlicensed guesthouses and enhance the licensing regime.

 

It is proposed that any premises shall be deemed to be operating as an unlicensed guesthouse once the licensing authority has collected sufficient circumstantial evidence, such as advertisements, price lists and a guesthouse layout.

 

Another proposal allows government officers to apply to the court for warrants to empower them to enter premises for inspection and enforcement actions.

 

The consultation paper proposes increasing the maximum penalties for operating unlicensed guesthouses from two years imprisonment to three years, and from a $200,000 fine to $500,000.

 

On the licensing arrangements, the consultation paper suggests the provisions on the Deed of Mutual Covenant and the views of the residents should be considered. It proposed to empower the authority to refuse a licence application where the deed concerned contains explicit restrictive provisions against guesthouse operations.

 

The paper also sets out three proposals to take into account local residents' views in the licensing process, which are conducting local consultation through District Officers, setting up an independent panel to consider views and make suggestions, and setting up a new statutory body for licensing.

 

The consultation document is available at the department’s website.

 

People can forward views by August 28 by email.

Nanchang city, Jiangxi province-based LED lighting producer Lattice Power Corporation has received US$80 million in series D financing led by Asia Pacific Resources Development Investment, according to a company announcement. Existing investors GSR Ventures, Mayfield Fund and Crescent HydePark participated in the round. Lattice Power previously received US$10 million series A financing from GSR Ventures, […]

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Euro-Asia private equity fund A Capital says it has partnered with French hotel operator the Louvre Hotels Group, to build 50 hotels in Germany within the next four to five years, according to a company announcement from A Capital. The pair has acquired 10 hotels under the Balladins brand in Germany from the DHM group, […]

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