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Three Companies to Make IPOs
Three Chinese companies are to make initial public offerings (IPOs) before listing on the Shanghai Stock Exchange, according to their prospectuses published November 28.
The Gansu Jiugang Group Hongxing Iron & Steel Co., based in Jiayuguan City in northwest China, is offering 200 million A shares at 5.5 yuan per share, with a price earning ratio of 25.94.
The Inner Mongolia Lantai Industrial Co., a producer of salt and salt chemicals, is offering 60 million A shares at 7.88 yuan per share, with a price earning ratio of 37.52.
The Beijing-based Sinotrans Air Transportation Development Co. is offering 70 million A shares at 14.30 yuan per share, with a price earning ratio of 24.47.
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