Streetbeat News

HYSNY

Hysan Development Co. Ltd.

http://www.hysan.com.hk

Industry

Portfolio Management

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Despite the overall decline in Chinese stocks, six companies listed on US exchanges are currently offering dividends over 10%. These include Telco HKBN Ltd. (OTC:HKBF), China Shenhua Energy Company Limited (OTC:CSUAY), Guangdong Investment Limited (OTC:GGDVF), PCCW Limited (OTC:PCCW), Hysan Development Company Limited (OTC:HYSNY), and Bank of China Limited (OTC:BACHY). The iShares China Large Cap ETF (NYSE:FXI) is down 8% in 2023.

Portfolio Pulse from Daniel Harrison

October 11, 2023 | 4:57 pm

Hong Kong property developer Hysan Development Company Limited (OTC:HYSNY) has issued a prospectus for up to $4 billion of medium-term bonds, more than 10 times its average medium-term debt tranche. The bonds are being issued in the form of zero-coupon notes that are heavily discounted to institutional purchasers. The company plans to list the bonds on the Hong Kong exchanges within the next 12 months. The bonds are unsecured and reliant on a guarantee by Hysan to repay. Bank of America Corporation (NYSE:BAC) and UBS Group AG (NYSE:UBS) are handling the debt issuance.

Portfolio Pulse from Daniel Harrison

October 10, 2023 | 3:43 pm

China's Golden Week Holiday spending fell short of government expectations, with consumer spending and home sales data affecting markets. Goldman Sachs Group Inc. predicts a protracted recovery for China's economy. Property developers Country Garden Holdings Limited and Hysan Development Company Limited are planning debt restructuring and offering respectively. China Evergrande's EV spin-off, China Evergrande New Energy Vehicle Group Limited, dropped 9% after a trading suspension was lifted. EV companies XPeng Inc, Li Auto Inc, and NIO Inc. saw their stocks fall, while BYD Company Limited reported strong sales.

Portfolio Pulse from Daniel Harrison

October 09, 2023 | 8:02 pm

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