According to reports, Springland International Holdings Ltd., a Chinese department-store hand, has decided to hold an initial public offering in Hong Kong that may kift up around HK$3.7 billion ($477 million) for the firm as well as its shareholders.

As per the sale papers, the retailers may price the stock between HK$4.85 and HK$5.93 respectively in the planned listing this month, which includes 625 million new as well as subsisting scrips.

The news further said that Morgan Stanley is managing the transaction.

According to reports, American International Assurance Co Ltd (AIA), the Asian Life insurance subsidiary of insurance major American International Group, has decided not to issue new shares in its targeted initial public offering in Hong Kong.

Meanwhile, the sources added that the company has started the pre-marketing event on September 26.

The company expects the listing of AIA will support pay back the bailout capital from the US government.

According to reports, the country's government has sanctioned Taiwan Semiconductor manufacturing Co. Ltd's application to improve its 200-mm fab in Shanghao, China to 0.13-nm technology.

Earlier, the company was limited to 0.25-micron processes in mainland China by the Taiwan's government.

After that, the rules were relaxed to 0.18-micron processes in the fab.

The central government would like to keep leading-edge chip making on the island.

In the meantime, the company's major edge fabs are still in Taiwan.

According to news, Industrial and Commercial Bank of China, the world’s most profitable lender, has announced that the Ministry of Finance and the Central Huijin Investment Ltd, the local investment division of the country’s sovereign wealth fund, China Investment Corp, will completely take part in ICBC’s rights issue plans.

In July this year, ICBC announced that it had secured sanction from the board of directors to lift up around RMB 45 billion through a rights issue in Hong Kong and Shanghai as a move to fill up its capital.

According to analysts, Taiwan Semiconductor Manufacturing Company’s (TSMC) consolidated revenues will experience a downfall of 4-5 percent in the last four months of this year, better than their earlier forecast.

The researchers expect that leading chip designers for tools used in Apple’s iPads and iPhones have increased their pace of growing wafer starts at the foundry.

While talking to media a market expert said, “Broadcom, NXP Semiconductors, Texas Instruments (TI) and Infineon Technologies recently began to increase their orders at TSMC.”

According to news, the Procter & Gamble Malaysia has roped in Ellie Xie as its new country chief executive officer.

The newly appointed CEO, who will be based at P&G’s newly launched corporate office at Surian Tower, Mutiara Damansara, is the firm’s first female country CEO.

Under Ellie’s rule, the company will continue to improve its portfolio of about 30 brands, out of which 11 are P&G Global Billion brands, most in the number one and two places in their category.

The new CEO has a vast experience in the field of marketing.

While talking to media, the CEO of Nissan Motor Co, Carlos Ghosn said that the company is targeting to double its production capacity in the Chinese market to 1.2 million units by the end of 2012.

This will endorse the company’s earlier targets as improvement in economic condition increases demand.

Mr. Ghosn was talking to media at central China, where the company held a function to launch its second plant in the city.

Mr. Ghosn said, “China is now the second-largest economy in the world, and our ambitions and actions are aligned with the current reality.”

According to news released by Apple, the company will start selling the Wi-Fi enabled iPhone 4 in the local electronic market of China from the coming Saturday.

The 16GB electronic device will cost around $743 and another model 32GB version will be available with the price tag of $892 without a contract at all Apple Stores across country.

Moreover, iPhone 4 will be available via telecom carrier China Unicom with a 2-year contract at prices Apple did not disclose.

According to the statement issued by the Ford Motor China Ltd, the company and its joint ventures in the country had managed to sell 44,047 vehicles on the Chinese market during the last month, increasing by 24 percent as compared to the same period of last year.

Moreover, the company sold 15,7327 vehicles in the United States market in August this year, declining by 14 percent as compared to last year.

The United States carmaker stated that Changan Ford Mazda Automobile Co., a passenger car venture in the country, sold 251,046 sedans in the period of January-August.

According to the recent statement issued by the China Vanke Co Ltd, the company has bagged the bids for two pieces of land in the CBD, Fuzhou of Fujian Province for a total of RMB 653 million or RMB 4,992 per square meter of potential floor area.

The reports said that both the plots have a total land area of 38.1 mu or 25,399 sq m.

In the meantime, the company statement said that out of the two plots, one will have a floor area ratio less than 5.5 and will have a commercial floor area of not more than 10,000 sq m.