Chinese brokerage firm Huatai Securities, based in Nanjing, has set an indicative price range of CNY20-22 ($2.93-3.22) per share for its IPO, which values the stock at 29.4-32.4 times 2009 earnings. The 784.6 mn A-share offering, representing 14% of Huatai’s enlarged share capital, stands to raise as much as CNY17.26 bn ($2.53 bn) for the [...]
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[*IPO*] Coal India :: Gov’t to float 10% stake, not 15%; Production delays
India’s government is planning to float a 10% stake in Coal India, the state-run monopoly producer, rather than the 15% sought by the company, as regulatory provisions preclude it from reserving some shares for employees. The company wants to reserve about 2% of the shares for the employees. The company then envisions a sale of [...]
[002353 CH] Yantai Jereh Oilfield Services Group :: Seeking CNY1.73 bn in IPO
Yantai Jereh Oilfield Services Group will issue 29 mn A-shares in the Shenzhen stock market at a price of CNY59.5 per share. Proceeds are to be used to expand production and service networks.
[601106 CH] China First Heavy Industries :: Launching IPO to raise CNY8.4 bn.
China First Heavy Industries, a heavy machinery manufacturer, revealed plans on Friday to launch a 2 bn A-share IPO (30.59% of its expanded capital) on Shanghai Stock Exchange this week to raise at least CNY8.4 bn ($1.23 bn) to finance manufacturing projects and working capital.
The company, one of the largest manufacturers of heavy machinery in [...]