Key Developments: Hong Kong Exchanges and Clearing Ltd (0388.HK)
30 Sep 2014
Latest Key Developments (Source: Significant Developments)
Hong Kong Exchanges and Clearing Ltd announced that on November 29, 2012, the Company and the Placing Agents entered into the Placing Agreement pursuant to which each of the Placing Agents has conditionally agreed with the Company to act as agent, severally and not jointly, for the Company to use its best endeavours to procure subscribers to subscribe for the Placing Shares at the Placing Price. The Placing Shares represent (i) approximately 6.06% of the existing issued share capital of the Company (consisting of 1,084,057,087 Shares in issue as at November 19, 2012); and (ii) approximately 5.71% of the Company's issued share capital as enlarged by the Placing (assuming the Placing is completed in full). Assuming that all the Placing Shares have been placed out to the Placees, the maximum gross proceeds and net proceeds (after deduction of all related costs, fees, expenses and commission) from the Placing will be approximately HKD7,753,190,000 and HKD7,709,424,050 respectively. The Company intends to use the net proceeds from the Placing to partly fund the Acquisition, the details of which are set out in the Company’s announcements dated June 15, July 9, July 25, September 25 and November 29, 2012. After taking into account all related costs, fees, expenses and commission of the Placing, the net Placing Price is approximately HKD117.33 per Share. Full Article
Reuters reported that Hong Kong Exchanges and Clearing Ltd is raising about $800 million to fund its takeover of the London Metal Exchange, tapping equity markets minutes after receiving approval from Britain's Financial Services Authority for the acquisition. Full Article
Hong Kong Exchanges and Clearing Ltd announced that no dividend will be proposed for the quarter ended September 30, 2012 (third quarter of 2011: $Nil). Full Article
HONG KONG - Charles Li, the chief executive of the Hong Kong Exchanges and Clearing Ltd (HKEx), on Monday urged pro-democracy protesters to use peaceful means within the boundaries of the law to voice their concerns.