Benxi Iron & Steel Co listing

China's fifth largest steel-maker, Benxi Iron & Steel Co, will sell shares next month to raise more than US$100 million in the biggest B-share float this year.

The company will sell 400 million B shares for its listing on the Shenzhen stock exchange. Sources said Benxi, from Liaoning province, made a net profit of more than 300 million yuan (about HK$278.67 million) last year, on sales of about three billion yuan. The firm is also set to offer shares to foreign investors this year.