Du Ronghai received an urgent phone call from his private banker at Industrial & Commercial Bank of China Ltd. about an investment opportunity promising a 10 percent annual return. Only for the privileged few, he was told.
Industrial & Commercial Bank of China Ltd., the country’s largest lender, is marketing its first U.S. dollar-denominated bond since the near-default of a trust as yield premiums in Asia reach a two-month low.
Wesizwe Platinum Ltd. is considering the disposal of its minority stake in Platinum Group Metals Ltd.’s Maseve mine as it focuses on developing its Bakubung project, Chief Executive Officer Jianke Gao said.
China’s Long March Capital Ltd., which partners with Citic Group Corp., is considering buying South African platinum assets after their value was depressed by strikes, the company’s Managing Partner Clement Kwong said.
When Transnet SOC Ltd. sold its first rand bond to foreign investors in November, Chief Executive Brian Molefe celebrated by buying a pair of two-tone shoes at an upmarket store on New York’s Madison Avenue.