Hongqiao Group aims for US$1.5b in IPO

PUBLISHED : Monday, 17 January, 2011, 12:00am
UPDATED : Friday, 28 October, 2016, 9:17am

China Hongqiao Group, the mainland's fifth-biggest aluminium product maker, has obtained approval from the Hong Kong stock exchange to raise about US$1.5 billion from an initial public offering, according to sources close to its investment banks. The Shandong-based, privately owned producer planned to use part of the proceeds from the share sale to expand its production facilities. JP Morgan Chase, ICBC International, Bocom International and BNP Paribas are the joint book-runners.