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China Molybdenum to start A-share IPO
By Richard Fu |
September 10, 2012, Monday
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Online Edition
Online Edition
CHINA Molybdenum Co, a leading maker of the minor metal used to harden steel, will launch an initial public offering in Shanghai to fund projects worth 3.65 billion yuan (US$576 million).
The company aims to issue up to 542 million yuan-denominated A shares, or 10 percent of enlarged share capital, according to a listing prospectus today posted on the website of the Shanghai Stock Exchange.
The share sale plan has been approved by the China Securities Regulatory Commission. The company said it will start book building tomorrow to gauge investor demand and decide the final issue price on September 20.
The IPO proceeds would go towards new projects with a total investment of 3.646 billion yuan, it said. The Luoyang, Henan Province-based company, is already listed in Hong Kong.
The company aims to issue up to 542 million yuan-denominated A shares, or 10 percent of enlarged share capital, according to a listing prospectus today posted on the website of the Shanghai Stock Exchange.
The share sale plan has been approved by the China Securities Regulatory Commission. The company said it will start book building tomorrow to gauge investor demand and decide the final issue price on September 20.
The IPO proceeds would go towards new projects with a total investment of 3.646 billion yuan, it said. The Luoyang, Henan Province-based company, is already listed in Hong Kong.
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