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Five Chinese firms target $2.1 bln in HK IPOs

09-14-2010 08:46 BJT

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Five Chinese companies are aiming to raise up to a combined 2.1 billion dollars, from initial public offerings in Hong Kong.

Many were waiting until after the Agricultural Bank of China raised a record 22.1 billion dollars in Hong Kong and Shanghai in July. The market has rebounded in recent weeks, and experts say there's no doubt the market has liquidity to absorb large IPOs.

The five firms include Chinese coking coal logistics company Winsway Coking Coal Holdings, and Chinese property company, Sunac China Holding limited. They aim to raise 800 million and 300 million dollars respectively. Winsway had attracted 120 million dollars in pre-IPO investments. It plans to list in the week of October 11th, while Sunac aims to list on October 7th.

Experts say investors want to tap the massive and growing consumption sector in China, but are cautious about the property sector due to the uncertainty of government policies.

Editor:Xiong Qu |Source: CNTV.CN

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