Sunday, July 18, 2010
SHANGHAI: Chinese machinery maker Changsha Zoomlion Heavy Industry Science And Technology Development Co is looking to raise $1.0 billion-$1.5 billion in a Hong Kong listing in the fourth quarter of 2010, said IFR, a Thomson Reuters service.
Shenzhen-listed Changsha Zoomlion said this week that it planned to issue up to 15 percent of its enlarged share capital in the Hong Kong listing to expand its business globally and enhance its technology.
Based in the central province of Hunan with a market capitalisation of about $5.5 billion, the company had hired Goldman Sachs, JP Morgan and Morgan Stanley for the share offering, said IFR.
The company said it would seek the approval of shareholders at a meeting on July 22, and the offering could be implemented within 18 months.
Changsha Zoomlion representatives were not immediately available for comment
Shenzhen-listed Changsha Zoomlion said this week that it planned to issue up to 15 percent of its enlarged share capital in the Hong Kong listing to expand its business globally and enhance its technology.
Based in the central province of Hunan with a market capitalisation of about $5.5 billion, the company had hired Goldman Sachs, JP Morgan and Morgan Stanley for the share offering, said IFR.
The company said it would seek the approval of shareholders at a meeting on July 22, and the offering could be implemented within 18 months.
Changsha Zoomlion representatives were not immediately available for comment
-www.dailytimes.com.pk
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