STANDARD Chartered Asia and Baring Securities have been appointed overseas underwriters for Shanghai Phoenix Bicycle and Shanghai Yaohua Pilkington Glass respectively.
The two will be among the fresh batch of Shanghai B-share companies scheduled to be listed in the next two months.
Phoenix Bicycle and Forever Bicycle, another new issue, are two of the top three bicycle manufacturers for China's domestic market.
Standard Chartered Asia corporate finance managing director Ambrose Lam said that pricing and other financial details had yet to be finalised.
But he said that all the B shares would be offered through private placement to institutional investors.
''The company owns about five factories in Shanghai and plans to diversify into motorised bicycles [bicycles with motors but not motorcyles] manufacturing,'' he said.
Phoenix Bicycle produces 5 million bicycles annually - about 20 per cent of the country's market share.
