Resourcehouse gauges demand

Resourcehouse Ltd, the Australian mining co started gauging investor demand Friday for an initial public offering in Hong Kong, two people with knowledge of the matter said.

The offering of coal and iron-ore mining assets may raise about $3 billion, said the people, who declined to be identified as the information is private. BOC International Holdings Ltd, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and UBS AG are managing the sale, they said.

Resourcehouse in March delayed the IPO because of market volatility, people with knowledge of the matter said at the time. It was at least the second time that the company's plan for a share sale in Hong Kong was postponed. Andrew Crook, a Brisbane-based spokesman for Resourcehouse, could not immediately be reached for comment.

ICBC sells dim sum debt

Industrial & Commercial Bank of China (Asia) Ltd sold 500 million yuan of bonds in Hong Kong, according to a person familiar with the matter. The notes due May 2013 were priced to yield 1.05 percent, said the person, who asked not to be identified because the details are private. Deutsche Bank AG managed the sale, the person said.

Lenovo venture to sell game-console

Lenovo Group Ltd's video game venture will begin selling a game console in China in the second half of this year, as the nation's biggest personal-computer maker diversifies into consumer products.

Beijing Eedoo Technology Ltd, part-owned by Lenovo, may sell its "iSec" console outside China after domestic sales of the product exceed one million units, said Jack Luo, head of the venture, in an interview from Beijing. He declined to offer a sales projection for the console, which allows users to play video games with motion-sensing technology.

Overseas video game companies including Nintendo Co, maker of the "Wii" motion-sensing console, have struggled to repeat in China their success in North America and Europe. Most software in use in China is unauthorized by license holders. In 2009, as much as 79 percent of software used in China was pirated, costing companies $7.6 billion, according to the Business Software Alliance.

Southern eyes Chongqing hub

China Southern Airlines Co signed an agreement with the southwestern muncipality of Chongqing to build an aviation hub in the city, the Xinhua News Agency reported, citing a company spokesman.

The airline will increase the number of Chongqing flights to Tibet and Yunnan, it said.

Angang to buy ore from Pangang

Angang Steel Co plans to buy up to 2.6 billion yuan of iron concentrate from Pangang Group Steel Vanadium & Titanium Co this year, the company said in a statement to the Shenzhen Stock Exchange Friday.

Minmetals copper output 4,582 tons

Minmetals Resources Ltd said it produced 4,582 metric tons of copper concentrate for the three months ended March 31, according to a statement to the Hong Kong Stock Exchange Friday.

First-quarter zinc output was 151,139 metric tons and lead output was 10,558 metric tons, the statement said.

The company said it had a "positive" outlook because of "continuing strength in metal prices."

SMIC to sell shares to Datang

Semiconductor Manufacturing International Corp said it would issue 85 million convertible preferred shares to Datang Telecom Technology & Industry Holdings Co at HK$5.39 each, raising a net $58.3 million.

Bloomberg - Reuter

(HK Edition 05/07/2011 page2)