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Two Companies to Make IPOs
Two Chinese companies are to make initial public offerings (IPOs) before listing on the Shanghai Stock Exchange, according to their prospectuses seen Wednesday.
The Guangxi Guidong Electric Power Co., Ltd. from Guangxi Zhuang Autonomous Region in southwest China will issue 45 million A shares at 8.80 yuan per share.
The Baoding Tianwei Electric Co. from Baoding City, Hebei province in north China will issue 60 million A shares at 9.10 yuan per share.
In another development, the Shanghai Kai Kai Industrial, a B share company listed on the Shanghai Stock Exchange, is to issue up to 50 million A shares at no less than 5.6 yuan per share. The actual size and price of the IPO will be decided by a bidding process.
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