China
China Life to Resume Trading Tomorrow
And the suspension is indeed related to the acquisition of 20% stake of Guangdong Development Bank. According to announcement, China Life will pay about $730 million in cash for the acquisition. Trading of LFC will resume tomorrow at 9:30 am in NYSE.
The announcement can be found here.
Citi Won, LFC Halted
Citigroup announced today that it won a $3.1 billion bid to take control of Guangdong Development Bank, a regional bank with more than 500 branches in south and east China. A consortium led by Citigroup, also including IBM, China Life Insurance, China's State Grid Corp, CITIC Trust, and PuHua Investment, will take 85.6% percent of [...]
Goldman Sachs Made $4.9B from World’s Largest IPO
According to Bloomberg.com, Industrial & Commercial Bank of China Ltd. (ICBC), China's largest bank which holds 17 percent of the nation's $5.2 trillion banking assets, sold 35.4 billion shares in Hong Kong and 13 billion shares in Shanghai in initial share sale. The $19.1 billion offering eclipsed the $18.4 billion NTT DoCoMo raised in 1998 [...]
Care a Piece of Moon Cake?
Today is the traditional Chinese Mid-Autum Festival (15th of August according to Lunar calendar). The Festival itself, started in the Tang Dynasty, has more than one thousand years of histroy and is China's second largest festival after the Lunar New Year Festival (Spring Festival).
On the day of the festival, moon cake, a symbol of [...]
I Should Have Said It Yesterday
on October 1st. So this is a make-up: Happy Birthday!
