Hong Kong Exchanges & Clearing Ltd., the second-biggest bourse by market value, expanded a convertible bond issue by 25 percent on higher demand, helping to fund its purchase of the London Metal Exchange.
Chow Chung-Kong, the former chief executive officer of subway operator MTR Corp. who was named to Hong Kong Exchanges & Clearing Ltd.’s board this week, said his fellow directors will decide if he is the next chairman.
Oversea-Chinese Banking Corp., Singapore’s second-biggest bank, and its insurance unit received an offer for their S$2.7 billion ($2.1 billion) stakes in a drinks maker and a brewery partly owned by Heineken NV.
Hong Kong Exchanges & Clearing Ltd.’s bid for the London Metal Exchange, the most expensive bourse merger over $1 billion, may succeed in gaining the approval of regulators who’ve scuttled $32 billion of similar cross-border deals.
Hong Kong Exchanges & Clearing Ltd., the world’s second-biggest bourse by market value, said first- quarter profit fell 7 percent, less than analysts expected, as listing fees held steady and investment income improved.