Shipyard listing advisers named

GUANGZHOU Shipyard Plant, one of nine mainland listing hopefuls, has provisionally named listing advisers to help its simultaneous flotation in China and Hongkong.

Among the eight professionals appointed, three are also advising one of three other companies that, together with Guangzhou Shipyard, are considered likely to be the first of the nine to list in the territory.

The four companies that have named listing advisers, either officially or provisionally are: Shanghai Petrochemical Complex, Qingdao Brewery, Beijing Renmin Machinery General Plant and the latest, Guangzhou Shipyard.

An official on the firm's shareholding restructuring team said in Guangzhou they had just returned from Shanghai after talks with its A share lead underwriter.

Peregrine Capital, as widely expected, is sponsoring and underwriting the company's international share issue - to be called I shares, instead of H shares as previously suggested.

Lead underwriter for the company's A share issue is Shanghai Shenyin Securities, also underwriting Qingdao Brewery's A share issue.

Accountancy firm Coopers and Lybrand is to help bring the shipbuilder's accounts up to international standard.

Asset valuers will be Beijing-based CIEC Certified Public Accountants and Sallmanns (Far East).

Mainland-based Guangzhou Foreign Economic Law Office and Victor Chu and Co of Hongkong have been named legal advisers of the company, while Woo Kwan Lee and Lo will act for the underwriters.