sinohydro

REFILE-UPDATE 1-China's Sinohydro rises 10 pct in Shanghai debut


* Sinohydro $2.1 bln IPO is biggest in mainland so far in 2011* Bodes well for upcoming major IPOsBy Soo Ai Peng and Samuel ShenSHANGHAI, Oct 18 (Reuters) - Shares of Chinese dam builder Sinohydro Group rose as much as 10 percent on their Shanghai debut on Tuesday, after it raised $2.1 billion in the mainland’s biggest IPO so far this year, boding well for future mega-IPOs.Shares in the builder of the Three Gorges Dam opened at 4.78 yuan and extended gains to as high as 4.95 yuan, compared with its IPO price of 4.50 yuan. Many analysts had expected the shares to hover around the IPO price on their first day of trading.“It shows that the market can still digest big IPOs and it’s a good sign for other mega IPOs in the pipeline,” said Chen Yi, an investment adviser with the sales department of Xiangcai Securities in Shanghai.The firm performance of Sinohydro shares also points to a slightly firmer outlook for the Shanghai stock market’s benchmark index . Beijing announced measures last week to bolster banking stocks and support small- and medium-sized enterprises (SMEs), helping trigger a rebound from two-and-half-year lows.China’s stock market, which has fallen 13 percent so far this year due to fears of an economic slowdown and the euro zone debt crisis, has forced many Chinese companies to postpone or downsize their IPOs. Weakness in the Hong Kong stock market has also pushed back some firms’ fundraising plans.In one of the most high-profile cases, Sany Heavy Industry Co last month postponed its plan to raise as much as $3.3 billion via a Hong Kong listing.Sinohydro braved the weaker market, but slashed the size of its IPO by a fifth in response to weak investor demand, pricing the offer at the bottom of an indicative range and raising 13.5 billion yuan ($2.1 billion) last month, compared with an original target of up to 17.3 billion yuan.Sinohydro’s encouraging debut performance bodes well for upcoming major IPOs, including those from China Communications Construction Co , Shaanxi Coal Industry and New China Life.China Communications Construction, the country’s biggest port builder, plans to raise 20 billion yuan in a Shanghai IPO, while coal miner Shaanxi Coal also plans to raise about 17.3 billion.Sinohydro, the builder of the Three Gorges Dam, the world’s largest hydropower project, has said it plans to use the IPO proceeds to upgrade its machinery, invest in some green energy projects and supplement working capital.China Securities Co and Bank of China International were lead underwriters for the offer. ($1 = 6.371 Chinese Yuan)


Honduras, China, USA, and the Lenca, a surprising connection

What sort of connection could the United States of America, China, Honduras, and a particular ethnic group of Hondurans possibly share? Well here’s a hint, it is a conflict. And no, it isn’t between the United States and China. It’s 3 vs. 1. And also, no it’s not Honduras, the Lenca, and the United States against the Chinese. Think you know what’s happening? You might. But if you do, you aren’t happy. No one is. The Lenca are facing a long line of violence, at the hands of everyone else. 

Long story short, the Chinese are workers, the Lenca are opposition, and the United States are bullying the native people. Don’t believe me? Well let me tell you a story! 

In April of last year there was a disturbing story. A group of native Hondurans known as the Lenca people had to defend themselves and the White River (Rio Blanco). What had occurred was, the Honduran government had agreed (without asking the consent of the natives, as is law) to develop the Rio Blaco, among others, and dam it up, building a hydroelectric plant. 

Members of COPIN (Council of Popular and Indigenous Organizations of Honduras), quickly organized a protest, and managed to erect a successful wall of bodies, fences, and a trench to protect what is historically, and legally their’s. 

Here’s a bit of history, so you can better understand this. The bank FICOHSA’s (one of Honduras’s most powerful banks) president Camilo Atala is one of the supporters of this movement, and also one of the alleged supporters of the Coup. Another powerful supporter is the Chinese company Sinohydro, a powerful organization that is owned by the Chinese government and is responsible for the construction of the dams themselves. Finally on the list of powerful backing organizations, is DESA another hydroelectric company that is responsible for attacks on the Native peoples. 

Members of Rio Blanco have suffered, been kidnapped, attacked, shot, maimed and threatened. Members of COPIN have faced potential jail-tail and even been condemned by the U.S. Ambassador (an event which occurred after I left), Lisa Kubiske. someone I am disgusted to admit that I have met. 

The humans rights violations are not the only problem here. Long standing legal tradition has been ignored, even before the startling acts of violence began. 

An article from SOA.org condemns the actions stating “In clear violation of ILO Convention 169 on the rights of Indigenous Peoples, the Lenca community of Rio Blanco was not consulted on whether they wanted this project or not. And when the Municipal Mayor finally did hold a town hall meeting about the project, he got up and left the meeting when the community voted against the project, refusing to sign the acta in an attempt to invalidate the meeting." 

The Honduran government has done many acts of violence, to the Natives of Honduras but this is simply impermissible.

Natives have been shot, attacked, brutalized, threatened, because they followed legal tradition when their government did not. These actions cannot be permitted any longer.

This is an extremely short overview of a longer piece I will do in a few days, but you can expect comments about the United States government in days to come, particularly when it relates to this. I have not even begun my rant.  Wanna read more? I’m gonna leave a multitude of sources for you to access and read as you please.

http://www.thenation.com/blog/179167/how-indigenous-communities-honduras-are-resisting-us-backed-multinationals#

http://america.aljazeera.com/opinions/2014/1/u-s-ambassador-humanrightsviolationshonduras.html

http://upsidedownworld.org/main/honduras-archives-46/4748-honduras-who-should-really-be-on-trial-for-the-rio-blanco-dam

http://www.soaw.org/about-us/equipo-sur/263-stories-from-honduras/4096-rioblanco2

http://www.hondurassolidarity.org/2013/11/20/rio_blanco/

http://www.hondurasweekly.com/national/item/16911-lenca-leader-promises-more-protests-against-mega-projects

http://www.laht.com/article.asp?CategoryId=23558&ArticleId=391935

I am FUMING right now. I have never been more disgusted with the American government than I am right at this moment. Trust me, I’ll be sure to give all of my followers ALL of the information they need to know about this in a few days.