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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 Monday, December 4.
The Xinjiang Dushanzi Tianli High & New Tech. Co., a producer of lubricant additives, asphalt and other petrochemicals in Karamay City, northwest China, is offering 60 million A shares at 7.28 yuan per share, with a price earning ratio of 35.33.
The Henan Tianfang Pharmaceutical Co. based in Zhumadian city of central Henan Province is offering 60 million A shares at 7.75 yuan per share, with a price earning ratio of 38.75.
The Wuhan Yangtze Communications Industry Group Co. is offering 45 million A shares at 8.18 yuan per share, with a price earning ratio of 29.2.
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