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China's Sinosteel plans domestic, HK IPO

By , 2008-03-08 12:00:00

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It is reported that State owned Sinosteel Group, China's largest steel trading firm plans an initial public offering in China and Hong Kong in the first half of 2008.

The Shanghai Securities News quoting an unnamed company executive said that Sinosteel will fold its major operating assets into a listing vehicle, which will issue yuan denominated A-shares in China followed by an H-share sale in Hong Kong.

The executive did not provide financial details of the IPO, but the newspaper quoted previous media reports as saying it could raise USD 1.5 billion.

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