Article Abstract:
China's Guangzhou-Shenzhen Railway and Tianijin Pipe are preparing for overseas listings. US investment bank Bear Stearns has been appointed as an adviser to Guangzhou-Shenzhen Railway which is planning a listing in both Hong Kong and the US. Proceeds from the sale will be invested in equipment for the express railway between Shenzhen and Guangzhou. Seamless pipe maker Tianijin Pipe has been given government funding worth 4 billion yuan to help finance its US offering. It will invest in a 500,000 t/y steel pipe production line, set to be built by 1997.
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Article Abstract:
China is planning a fourth batch of privatisations, involving an overseas listing in 1997 for 38 new state-owned companies. Most of these will be floated in Hong Kong, but there will probably also be flotations in London, New York, Sydney and Tokyo. The companies cover areas including communications, power, electronics and chemicals, and are based in China's more developed southern and eastern coastal regions. They include Three Nine Pharmaceutical Co, Guizhou Wujiang Hydropower Development Corp and China Eastern.
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Article Abstract:
The Shenzhen B share market in China has been boosted by several listings from larger companies, including Weifu Fuel Injection Company and Jiangling Motors Corporation. Robert Bosch of Germany is to take 16.2% of Weifu's B shares, and it will have a 50% stake in a joint venture, China National Engine Management System Co, to make engine control systems.
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