In a seemingly peculiar move, JC Penney Co announced yesterday that it would be selling 84 million of its shares to generate cash after saying that the company was liquid enough by the end of its fiscal year.
Deals
Rejections of Alibaba IPO leads to renewed calls of HK market reforms
The South China Morning Post reported the rejection of the Alibaba IPO led to calls for market reforms in Hong Kong.
Li Ka-shing's Power Assets seeks USD 5 billion from sale of HK electricity units- sources
Power Assets Holdings would be exiting its units in its Hong Kong electricity business for USD 5 billion, according to sources.
HTC exits from half of its stake in Beats Electronics
HTC Corp would be selling 24.84% of its stake in Beats Electronics for USD 265 million. Taiwan-based smartphone maker HTC Corp would be selling back the 24.
Rockwood may be a possible takeover target - analysts
Analysts said Rockwood Holdings Inc had poised itself to be an attractive takeover target as it had sold USD4 billion of its businesses this year.
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The Asian Development Bank had allotted two loans for renewable energy and utilities projects in both eastern and western India.
In a bid to maximize benefit from high consumer demand, SABIC issues a five year dollar denominated bond projected to be worth USD1 billion.
The partnership structure proposal of Alibaba Group Holding Ltd got support from its shareholder Yahoo Inc.
Hong Kong's adherence to its rules may force the IPO of Alibaba to be done elsewhere. The largest shareholders of the Alibaba Group have backed the partnership structure proposed by the company that was the central issue of a debate as to the permission to list its shares in the bourse.
On Friday, the board of directors of Singapore-based and London-listed Archipelago Resources agreed to the privatization proposal of its major investor PT Rajawali Corporation valued at GBP338 million or USD541 million.
The British government said on Friday that the initial public offering of the nation's Royal Mail postal service would value the company at GBP3.3 billion or USD5.3 billion.
Danish wind turbine producer Vestas Wind Systems announced that it would be forming a new joint venture with Japanese conglomerate Mitsubishi Heavy Industries.
A Reuters report said that Japanese-based firm Toray Industries Inc would be purchasing US-based company Zoltek Companies Inc for USD584 million.
Avianca Holdings SA Chairman German Efremovich had offered shares of his company to back up loans made for the airline's expansion.
