Agricultural Bank of China Ltd (SHA: 601288, HKG: 1288) has agreed to offer a ¥100 billion credit package to Beijing Shougang Steel Co (SHE: 000959) to support its development of higher value added products.
Bank of Communications Co (SHA: 601328, HKG: 3328), China's fifth largest lender, has agreed to offer a ¥16 billion credit package to China Gezhouba Group Co (SHA: 600068), a major infrastructure contractor.
Sumpo Food Holdings Ltd, a Fujian province-based chicken producer who supplies KFC, is planning a Hong Kong IPO aimed at raising HK$320 million. The company processes 18 million chickens a year. It netted ¥57 million in 2009.
Xinxing Ductile Iron Pipes Co (SHE: 000778) said Wednesday it would invest ¥3.33 billion building a molding factory in Wuhu, Anhui province.
Wuhan Kaidi Electric Power Co (SHE: 000939) has won a $645 million contract with Vietnam's Thang Long Thermoelectric JSC, the latter said Thursday. Wuhan Kaidi is expected to build a 600,000kW coal-fired power plant within 45 months.
COSCO Shipping Co (SHA: 600428) said it was planning to raise ¥2.2 billion to repay bank loans for building ships and to partly fund manufacturing of another 18 ships.
BOE Technology Group Co (SHE: 000725), a thin-film transistor-liquid crystal displays maker, has secured a ¥10.5 billion credit package from a range of banks for construction and operation of its 8.5 generation assembly line.
China Resources Cement Holdings Ltd (HKG: 1313) said Wednesday it has established a ¥800 million joint venture with Shanxi Huabao Coking Group Co. China Resources Cement owns 72% of the new company.
Joy.cn, a leading video site, has won ¥200 million in its first round of fundraising, CEO Lv Wensheng wrote in his microblog. The website has a database of 160,000 hours of videos and attracts 12 million visits per day.
$1 = ¥6.62