china rongsheng heavy industries group holdings price

China Rongsheng Heavy Industries Group Holdings Limited (SEHK:1101) announced a private placement of 1,000, 7% convertible bonds due 2016 at a price of HKD 1,000,000 per bond for gross proceeds of HKD 1,000,000,000 on December 23, 2013. The transaction will include participation from Partners Kingwin Fund and Kingwin Victory Investment Limited, entity managed by Wang Ping which will invest HKD 500,000,000 each. The bonds will bear interest at a rate of 7% per annum payable annually in arrears. The bonds will be issued at 100% of the principal amount. The bonds will mature on date falling 30 months after closing. Both of the investors will nominate one candidate, each as non-executive Director on the company"s board of directors. The bonds will be convertible into 952,380,952 shares at a conversion price of HKD 1.05 per share, representing 11.98% stake in the company. The conversion period will start on issuance and will end on maturity date. The company will receive net proceeds of HKD 992,500,000 after deduction of commissions and expenses. The subscription and conversion of bonds is not subject to shareholders" approval.

China Rongsheng Heavy Industries Group Holdings Limited (SEHK:1101) announced a private placement of 1,000 7% convertible bonds due 2016 at a price of HKD 1,000,000 per bond for gross proceeds of HKD 1,000,000,000 on April 30, 2014. The transaction will include participation from new investor, Star Team Enterprises Inc. The bond will bear interest at 7% per annum and will mature in 30 months from the date of closing of the transaction. The interest will be payable by the company annually in arrears. The bonds are convertible into common shares of the company, any time on or after the issue date of the bonds and up to the maturity date, at a conversion price of HKD 1.07 per share. In the event, where the bonds are fully converted, the company will issue 934,579,439 common shares which will represent 11.78% of the enlarged share capital of the company. The company expects to receive net proceeds of HKD 992,500,000 in the transaction. If the conditions to the agreement are not fulfilled before June 30, 2014, the subscription agreement will terminate. Unless previously redeemed, converted or purchased and cancelled in the circumstances set out in the terms of the convertible bonds, the company will redeem bonds at the principal amount together with accrued and unpaid interest thereon on maturity date. The transaction is subject to the shareholder"s approval.

HONG KONG (Reuters) - Shares in China Rongsheng Heavy Industries Group Holdings Ltdtumbled 16 percent on Monday after the U.S. securities regulator accused a company controlled by the shipbuilder"s chairman of insider trading ahead of China"s CNOOC Ltd"sbid for Canadian oil company Nexen Inc.Labourers work at a Rongsheng Heavy Industries shipyard in Nantong, Jiangsu province May 21, 2012. REUTERS/Aly Song

The U.S. Securities and Exchange Commission filed a complaint in a U.S. court on Friday against a company controlled by Rongsheng Chairman Zhang Zhirong, and other traders, accusing them of making more than $13 million (8.2 million pounds) from insider trading ahead of CNOOC’s $15.1 billion bid for Nexen.

“The news around the chairman comes on the back of other operational and credibility issues,” Barclays said in a note to clients. “We think China Rongsheng presents significant company-specific risk.”

In a filing with the Hong Kong stock exchange, Rongsheng - which entered a strategic cooperation agreement with CNOOC in 2010 - said it did not expect the U.S. investigation to affect its operations. It said Zhang did not have an executive role in the company.

Rongsheng, controlled by Zhang, also issued a profit warning on Monday, saying first-half earnings would fall sharply as a result of the shipbuilding downturn.

Zhang was ranked the 22th richest Chinese person by Forbes Magazine in September 2011. But his net worth fell by more than half in the past year to $2.6 billion in March 2012 as shares of Rongsheng tumbled.

Shares of Glorious Property Holdings Ltd, a Chinese real-estate developer controlled by Zhang Zhirong, also fell sharply. The stock was down 12.9 percent as of 0304 GMT.

CNOOC said on July 23 it had agreed to acquire Nexen for $15.1 billion, China’s biggest foreign takeover bid. Shares of Nexen jumped almost 52 percent that day.

The unnamed Singapore traders used accounts in the names of Phillip Securities and Citibank C.N, while Well Advantage made its trades through accounts held at UBS Securities and Citigroup Global Markets. Neither of the Well Advantage accounts had traded Nexen shares since January 2012, and the Citigroup account had been completely dormant for over six months, the SEC says.

HONG KONG, Nov 12 (Reuters) - China Rongsheng Heavy Industries Group Holdings Ltdpriced its initial public offering at HK$8.00 per share, raising $1.8 billion, IFR reported on Friday.

Rongsheng, which plans to use the proceeds for its shipbuilding and offshore engineering business, had set a marketing range of HK$7.30-10.10 per share for the offering.

Bank of China International, China Construction Bank International, Deutsche Bank AG, JPMorgan Chase & Coand Morgan Stanleyare handling the deal. (Reporting by Shankar Ramakrishnan; Editing by Chris Lewis)

China Rongsheng Heavy Industries Group Holdings Ltd., the shipyard that has become symbolic of a credit glut gone wrong, said a spate of canceled orders led to

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China Rongsheng Heavy Industries Group, the country"s largest private shipbuilder, said its first-half net loss widened more than ten times as shipowners

Private-sector shipyards such as Rongsheng Heavy Industries and China Ocean Shipbuilding Industry Group Ltd report another very tough year of losses in 2013

By Adam Jourdan and Keith Wallis RUGAO, China/SINGAPORE, Dec 6 (Reuters) – Deserted flats and boarded-up shops in the Yangtze river town of Changqingcun

China Rongsheng Heavy Industries Group, the country"s largest private shipbuilder, said on Wednesday it expects to report a substantial full-year loss just

Rongsheng Heavy Industries announced in a stock filing today their plan to issue HK$1,400,000,000 (USD $180 million) in convertible bonds in an effort to help

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China Rongsheng Heavy Industries Group, China"s largest private shipbuilder, appealed for financial help from the Chinese government and big shareholders on

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HONG KONG, March 25 (Reuters) – China Rongsheng Heavy Industries Group Holdings Ltd won its first orders to build two jack-up rigs worth more than $360

Last October, the company entered into an agreementto sell 98.5% equity interest of Rongsheng Heavy Industries, the entire interest in Rongsheng Engineering Machinery, Rongsheng Power Machinery and Rongsheng Marine Engineering Petroleum Services, to Unique Orient, an investment holding company owned by Wang Mingqing, a creditor of Huarong Energy, for a nominal price of HK$1.

Once the largest private shipyard in China, Rongsheng ceased shipbuilding operations in 2014 after it was hit by a major financial crisis and the shipyard rebranded into Huarong Energy in 2015.

Rongsheng has borrowed billions of dollars in debt since its launch in 2005, fueling a rapid expansion that has made it one of China"s biggest three shipbuilders. But a global slowdown in demand for new vessels over the past few years has hit the firm hard.

In July Rongsheng, which is owned by private investors, said it was in discussions with a number of banks about "renewing existing credit facilities." The company also said it has reached an accord with a company controlled by key shareholder

China Huarong Energy Company Limited, an investment holding company, engages in the energy exploration and production businesses. It explores for, produces, and sells crude oil. The company operates five oilfields in the Fergana Valley of the Republic of Kyrgyzstan; and sells petroleum products. It is also involved in commodity trading business; and oil and gas wholesale and distribution activities. The company was formerly known as China Rongsheng Heavy Industries Group Holdings Limited and changed its name to China Huarong Energy Company Limited in April 2015. China Huarong Energy Company Limited was founded in 2004 and is headquartered in Wan Chai, Hong Kong.