China Market Pulse: Yunnan Copper, Gome, Angang, Wugan, Minsheng Bank

Yunnan Copper Co (SHE: 000878) has announced a private placement aimed at raising ¥5.5 billion ($1 = ¥6.7) to boost capital of its subsidiary, purchase the major shareholders' assets, repay bank loans and replenish cash pool.

Shanghai Jinfeng Investment Co (SHA: 600606), a property developer, put up for sale a complex of 150 serviced apartments it acquired in January for ¥540 million.

China National Building Material Co (HKG: 3323) has planned to offer 240 million shares aimed at raising HK$3.8 billion (US$1 = HK$7.8) to repay debts and fund operating activities. It will be its largest additional offering since going public.

Bain Capital has converted ¥1.6 billion of bonds to a 9.98% stake in Gome Electrical Appliances Holding Ltd (HKG: 0493), China's second largest chain store by revenue, becoming its second biggest shareholder after founder Huang Guangyu's 31.6%.

Angang Steel Co (SHE: 000898, HKG: 0347) has teamed up with US, Italian, Japanese, German and Canadian peers to build a rebar plant in Amory, Mississippi, capable of producing 300,000 tons per year. Angang will invest $168 million for a 14% stake.

Wuhan Iron & Steel Co (SHA: 600005) has raised the prices of its major October-delivery products by ¥100-¥400/ton.

Xinjiang Tianshan Cement Co (SHE: 000877) said it will spend ¥4.5 billion building 8 assembly lines.

China Minsheng Banking Corp (SHA: 600016, HKG: 1988), the nation's biggest privately owned bank, said it will lend a total ¥1 trillion to private businesses in the next 5 years. It has so far lent ¥250 billion.

A consortium led by HSBC has agreed to offer a ¥500 million credit package to Chongqing Iron & Steel Co (SHA: 601005, HKG: 1053).