Chinese Clean Energy IPOs to top $1.1 billion this year on HKSE

Beijing Jingneng Clean Energy (BJCE) and the solar glass unit of Xinyi Glass Holdings (Xinyi) will launch initial public offerings on the Hong Kong Stock Exchange this year, according to the The Wall Street Journal. BJCE plans to conduct a $500 million IPO in Q2, while Xinyi plans to raise $600 million in Q3.

Chinese clean energy firms successfully raised $2.4 billion in Hong Kong last year, as the country continues to promote clean energy technology to cut its greenhouse gas emissions and reliance on fossil fuels.

Beijing plans to derive 15 percent of its energy from renewable sources by 2020 through increased use of wind, solar and nuclear power, the WSJ said.

Daily Market Brief

Market Comment

Ukrainian equity markets rose along with major European indexes Friday (Mar. 18). The UX exchange climbed steadily throughout the day to add 2.55%. Total equity trading volume came in at a moderate UAH 191 mln – typical for the last session of the week. Motor Sich (MSICH) stole the show once again, rising 5.29% on a hefty volume. Metals and mining stocks (ALMK +5.59%, AZST +4.37%, AVDK +3.84%, ENMZ +4.68%, YASK +1.85%) surged for a second straight session. Ukrainian electricity generators made impressive ascents, with Centerenergo (CEEN +2.35%) and Donbasenergo (DOEN +2.35%) tacking on to gains, and Zakhidenergo (ZAEN +1.57%) making a noteworthy turnaround. Banks (BAVL +1.92%, USCB +3.39%) ratcheted up, and Ukrnafta (UNAF +0.63%) made a late session push into the black. Support for Ukrtelecom (UTLM) waned, with the stock shedding 0.77%.

In London, Ukrainian oil and gas names closed mixed: JKX Oil & Gas (JKX LN +0.87%) posted a meager gain, Regal Petroleum (RPT LN -1.56%) stepped down a notch, and shares of Cadogan Petroleum (CAD LN -5.73%) plummeted. Ferrexpo (FXPO LN +2.54%) continued to catch investors’ attention, while MHP (MHPC LI -0.06%) closed just shy of the flat line. In Warsaw, Astarta (AST PW -0.06%) and Kernel (KER PW -0.37%) finished the session slightly lower and Agroton (AGT PW) closed flat.


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Daily Market Brief

Market Comment

Ukrainian equity markets continued their push back into positive territory yesterday (Mar. 17). The UX exchange added 1.8% on a moderate equity trading volume of UAH 182 mln. Motor Sich (MSICH +1.25%) took a bite out of losses posted earlier in the week. Metals and mining stocks (ALMK +3.12%, AZST +3.43%, AVDK +1.15%, ENMZ +2.68%, YASK +1.47%) added to the index’s positive momentum. Trading for Ukrnafta (UNAF +0.88%) remained steady ahead of next week’s crucial EGM. GenCos closed mixed: Centerenergo (CEEN +3.06%) and Donbasenergo (DOEN +1.64%) surged, while Zakhidenergo (ZAEN -1.52%) posted a notable decline. Banks (BAVL +1.67%, USCB +2.75%) and Ukrtelecom (UTLM +1.54%) fell in line with the advance. Stirol (STIR +4.61%) skyrocket on the back of news that the company had recommenced production of ammonium nitrate at a facility closed back in 2009.

On international markets, Ukrainian names followed the general upward climb. Ferrexpo (FXPO LN) had a monster session, posting a 4.57% rise. Oil and gas companies (CAD LN +1.95%, RPT LN +0.63%, JKX LN +2.55%) closed with moderate gains, and MHP (MHPC LI +0.63%) made a slight turnaround. In Warsaw, agricultural and food processing stocks (AGT PW +1.51%, AST PW +1.94%, KER PW +1%) gained ground.

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