• Sat
  • Dec 20, 2014
  • Updated: 4:41am

Three share sales plan to raise US$2.2b

PUBLISHED : Monday, 18 October, 2010, 12:00am
UPDATED : Monday, 18 October, 2010, 12:00am
 

Three companies are set to start marketing their share offerings today, planning to raise US$2.2 billion, according to people familiar with the transactions.

China Rongsheng Heavy Industries, the largest private shipbuilder on the mainland, is raising more than US$1.5 billion in an initial public offering being arranged by Bank of China International, CCBI, Deutsche Bank, JPMorgan and Morgan Stanley. Pricing of the offering is expected by the middle of next month.

Leoch Battery, a lead-acid battery manufacturer and exporter, is raising at least US$200 million. The transaction is being arranged by Bank of China International and Citigroup. Pricing is expected in the first half of November.

CJ Land, a commercial and residential property developer focusing on Greater Shanghai, plans to raise at least US$500 million in an offering being arranged by Bank of China International, Bank of America Merrill Lynch and Citigroup. Pricing is also expected in the first half of November.

Separately, IRC, the iron-ore unit of London-listed Petropavlovsk, Russia's third-largest gold producer, has priced its shares at HK$1.80 apiece, raising about US$222 million after cutting its offering by half earlier.

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