Chalieco may raise US$221m
Source: Bloomberg News |
June 20, 2012, Wednesday
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Print Edition
Print Edition
ALUMINUM Corp of China, the country's biggest producer of the metal, plans to raise as much as US$221 million selling shares in its Hong Kong engineering and construction unit.
China Aluminum International Engineering Corp, also known as Chalieco, plans to issue 363.2 million shares at HK$3.93 (51 US cents) to HK$4.73 each and list the shares on July 6, according to the company's prospectus. Six so-called cornerstone investors, including Yunnan Aluminum Co, agreed to buy about US$100 million of the offering, the prospectus said.
Chalieco suspended its initial public offering in March, which was planned to raise as much as US$500 million, people familiar with the matter said at the time. At least six IPOs valued at US$1.55 billion have been canceled or postponed in Hong Kong this year amid a slump in stock prices, according to data compiled by Bloomberg.
China Aluminum International Engineering Corp, also known as Chalieco, plans to issue 363.2 million shares at HK$3.93 (51 US cents) to HK$4.73 each and list the shares on July 6, according to the company's prospectus. Six so-called cornerstone investors, including Yunnan Aluminum Co, agreed to buy about US$100 million of the offering, the prospectus said.
Chalieco suspended its initial public offering in March, which was planned to raise as much as US$500 million, people familiar with the matter said at the time. At least six IPOs valued at US$1.55 billion have been canceled or postponed in Hong Kong this year amid a slump in stock prices, according to data compiled by Bloomberg.
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