Domestic firms step up IPOs in HK
- By Yan Pei
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China.org.cn, September 13, 2011
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A rough estimate put the total funds to be raised through initial public offerings (IPOs) in Hong Kong in the coming months at over US$11 billion. [File photo] |
With the deepening crisis in the euro zone, Chinese companies have once again stepped up their listing efforts in the Hong Kong stock market.
A rough estimate put the total funds to be raised through initial public offerings (IPOs) in Hong Kong in the coming months at over US$11 billion.
On Monday, top women's shoes retailer Hongguo International Holdings Limited kicked off its IPO subscription. On the same day, mainland restaurant chain Xiao Nan Guo Restaurants Holdings Ltd. and Chinese tea company Tenfu Tea Group launched their road shows.
Major IPOs in the coming days include CITIC Securities, XCMG Construction Machinery and Sany Heavy Industry.
CITIC Securities, a unit of state-owned conglomerate CITIC Group, plans to start its road show on September 16, and set its share price range on Sept. 28, aiming to raise US$1.5 billion in funds.
XCMG Construction Machinery, China's largest machinery manufacturer by revenue, is expected to start share sales to individual investors on Sept. 23. The company plans to bring in US$1.5 to US$2 billion through its Hong Kong IPO on Oct. 6.
Sany Heavy Industry, a machinery maker that has already gone public on Shanghai bourse, will launch its road show on next Monday on Sept. 19 and set the price range of its shares on the Sept. 27. Sany plans to raise approximately US$3.4 billion via share sales.
China's business press carried the story above on Tuesday.
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