PRESS DIGEST - Hong Kong - June 15
HONG KONG, June 15 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy. HONG KONG ECONOMIC TIMES
-- Sportswear distributor 361 Degrees is expected to raise targeted returns from its pending IPO by 40 percent to HK$2.175 billion, from an initial HK$1.56 billion, due to recent strong market conditions, according to sources. APPLE DAILY
-- Chinese herbal shampoo maker Bawang International is expected to sell shares at 15 to 18 times the prospective price-to-earnings multiple, raising about HK$200 million in an IPO to fund expansion into regional markets in Thailand and Malaysia, according to a senior executive.
SOUTH CHINA MORNING POST
-- China is expected to unveil a plan to subsidise prices for solar power production by as early as the second half of the year to enhance mass adoption of the more expensive green electricity in China, according to Zhao Yuwen, head of China Renewable Energy Society's photovoltaic committee. -- Morgan Stanley, Citigroup and Goldman Sachs are competing for an underwriting role and may share up to US$350 million in fees in the estimated US$10 billion Hong Kong flotation of AIA, sources said.
-- Developers spent 15.92 billion yuan in May to buy land in 12 main Chinese cities, the biggest single monthly investment since January, fuelled by stronger sales response of development sites in China, according to a report by property agent Centaline China.
WEN WEI PO
-- Sportswear retailer Anta Sports Products (2020.HK) will focus on the China market in the next two to three years, and aims to maintain at least 20 percent sales growth per annum, according to a brand director.
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