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XCMG plans HK IPO
Source: Xinhua |
January 6, 2011, Thursday
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Print Edition
Print Edition
XCMG Construction Machinery Co, a Chinese construction machinery maker, yesterday said it plans to float shares in Hong Kong.
The company made the announcement in a statement filed with the Shenzhen Stock Exchange. The initial public offering will be less than 20 percent of the company's total equity after the share sale. Proceeds from the offering will be used to promote research, expand international businesses, replenish funds and optimize capital structure.
The company made the announcement in a statement filed with the Shenzhen Stock Exchange. The initial public offering will be less than 20 percent of the company's total equity after the share sale. Proceeds from the offering will be used to promote research, expand international businesses, replenish funds and optimize capital structure.
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