BEIJING Renmin Machinery General Plant is a step closer to a simultaneous listing in Hongkong and China with the provisional appointment of listing advisers. But the company, one of nine mainland hopefuls, yesterday said it had no immediate plans to list in London. Last year, the printing-machine producer said it planned to list in London with the help of Cathay International Group of Hongkong, then its financial adviser. An official member of the firm's shareholding restructuring team said in Beijing yesterday there was now no plan to list in London but refused to say whether that plan had been permanently shelved. He said the listing advisers had yet to be approved by Beijing's securities authorities although they had started working on the listing document. Standard Chartered Asia has been named sponsor and lead underwriter of the international share issue in Hongkong. According to experts involved in the nine mainland listings, shares listed in Hongkong will be designated H shares (that is, Hongkong shares) to better reflect their nature. A recent government paper to the Legislative Council has revealed that H shares will be denominated in yuan, but will list and trade in Hongkong dollars on the local exchange and will be available only to overseas investors. H shares compare with A shares which are also yuan-denominated, but are listed and traded in yuan on the mainland exchanges and are available only to mainlanders. The lead underwriter for Beijing Renmin's A shares will be Beijing-based China Securities, also known as Huaxia Securities. China Securities is one of three approved national brokerage houses in China. Accountants Kwan Wong Tan & Fong will help bring its accounts up to international standards for listing in Hongkong and the asset valuer will be Chesterton Petty. Mainland-based Kangda Law Office and Hongkong-based Woo Kwan Lee & Lo have been named legal advisers while London-based Richards Butler will act for the underwriters. Information supplied by Sinoprosper International says Beijing Renmin Machinery was established in 1949 as a result of a merger of small industrial firms that produced building and paper-making machinery. Now China's biggest printing enterprise, Renmin Machinery has more than 5,600 employees working at its 350,000 sq m plant in Beijing. Last year, it had fixed assets estimated to be worth more than 100 million yuan (about HK$134.7 million at official rates) and an average annual sales growth of 15 per cent.