L&F approved for acquisition

Li & Fung Ltd said it won court approval for the proposed acquisition of Integrated Distribution Services Group Ltd.

Integrated Distribution Services will resume trading today, according to a statement by Li & Fung to the Hong Kong stock exchange Thursday. Parent Li & Fung Group is the biggest shareholder of the distribution and transportation company.

ICBC executive charged by ICAC

An executive from Industrial & Commercial Bank of China (Asia) Ltd and two other people were charged in a bribery case brought by Hong Kong's Independent Commission Against Corruption (ICBC), the anti-graft agency said in a statement Thursday.

The ICAC said it had brought charges against Derick Chan Po-fui, 50, head of the corporate banking department, and Chan Yick-yiu, 43, former head of real estate and finance at the bank.

CY Foundation chair investigated

CY Foundation Group Ltd said Chairman Cheng Chee-tock and Leonora Yung, vice president of human resources, are under investigation by the ICAC for alleged corruption and the use of false documents.

No charges have been laid against the two executives, and the matter won't have a material impact on the operations of the group, according to a company statement to the Hong Kong stock exchange Thursday.

Sun King gets $102m in IPO

Sun King Power Electronics Group Ltd raised HK$790.9 million ($102 million) from its Hong Kong initial public offering, according to terms for the sale that were sent to investors Thursday.

Some 409.8 million shares were sold at HK$1.93 each, the terms showed. Deutsche Bank AG managed the transaction.

Central China said to sell bonds

Central China Real Estate Ltd, part-owned by Singapore's CapitaLand Ltd, plans to sell $200 million to $300 million of bonds, according to a person familiar with the matter Thursday, who asked not to be identified as details are private.

Golden Meditech to issue TDR

Hong Kong-listed healthcare company Golden Meditech Holdings Ltd said it has applied to offer Taiwan Depositary Receipts taking advantage of warming ties across the Taiwan Straits to raise its profile.

Golden Meditech aims to offer and list up to 90 million TDRs, equivalent to up to 180 million ordinary shares, it said in a statement released late Wednesday.

Shares for the issue would come from up to 120 million new shares and up to 60 million existing ones. Total shares for the offering would represent about 10.55 percent of the company's issued share capital and 9.86 percent of its enlarged capital following the issue of new shares.

ABC sells HK$300 million notes

Agricultural Bank of China Ltd sold HK$300 million of certificates of deposit due 2011 in Hong Kong, according to a person familiar with the matter Thursday.

HSBC Holdings Plc managed the sale of the 0.8 percent notes, said the person, who asked not to be identified because the details are private.

Bloomberg - Reuters

(HK Edition 10/08/2010 page2)