HONG KONG, March 5 (Reuters) - Chinese firms have raised
US$730.62 million from overseas initial public offerings so far
this year and plan up to a further US$21.5 billion over the
rest of 2004.
The total of US$22.2 billion would be almost triple the
US$7.5 billion raised from new share issues on the Hong Kong
exchange in 2003.
Following are the Chinese IPOs completed and announced so far.
Completed deals
------------------------------------------------------
COMPANY SIZE OF DEAL
China Oriental Group (HKSE:0581.HK - News) US$246.79 million
Shanghai Forte Land (HKSE:2337.HK - News) US$220.84 million
Weichai Power Co Ltd (HKSE:2338.HK - News; 1) US$148.72 million
Linktone Ltd (NasdaqNM:LTON - News; 2) US$85.96 million
China Green (Holdings) (HKSE:0904.HK - News) US$28.31 million
Total completed deals US$730.62 million
Upcoming deals
------------------------------------------------------
COMPANY ESTIMATED SIZE OF DEAL
China Construction Bank US$5-10 billion
Ping An Insurance (3) US$2 billion
China Netcom (4) US$1.5-3 billion
Semiconductor Manufacturing US$1.79 billion
International Corp (5)
Shenhua Group (11) US$1.5 billion
Minsheng Bank (Shanghai:600016.SS - News) US$1 billion
Air China (6) US$500 million
Shenzhen Energy (7) US$500 million
Tangshan Guofeng Steel Co Ltd (8) US$500 million
Tencent Technology (9) US$250 million
CSMC Technologies Corp (10) US$200 million
Mengniu Dairy (12) US$128 million
Chint Group Corp US$128 million
Total possible upcoming IPOs US$21.50 billion
Notes:
(1) Weichai Power, a diesel engine maker, will list on Hong
Kong's main board on March 11.
(2) Linktone, which provides wireless services for mobile
phone users, listed its shares on the Nasdaq exchange on March
4.
(3) Ping An Insurance, China's second-largest life insurer,
has applied to Hong Kong's stock exchange for a listing that is
expected by mid-May. BOC International, Goldman Sachs (NYSE:GS - News),
HSBC (HKSE:0005.HK - News; London:HSBA.L - News) and Morgan Stanley (NYSE:MWD - News) are handling
the share sale.
(4) China Netcom, the country's number-two fixed line phone
company, has named Goldman Sachs, Citigroup (NYSE:C - News) and CICC to
handle its planned listing.
(5) SMIC, China's largest chip maker, is marketing an IPO
worth up to US$1.79 billion. Its shares are expected to begin
trading in New York on March 17 (NYSE:SMI - News) and in Hong Kong the
following day (HKSE:0981.HK - News).
(6) Air China, the country's flagship carrier, has
appointed Merrill Lynch (NYSE:MER - News) and China International Capital
Corp (CICC) to arrange its IPO.
(7) Shenzhen Energy, which controls about 75 percent of the
installed capacity in the southern Chinese boomtown of
Shenzhen, has named JP Morgan (NYSE:JPM - News) to handle the planned
share sale.
(8) Steel maker Tangshan Guofeng is understood to have
picked JP Morgan to handle the listing.
(9) Tencent Technology, which runs China's most popular
messaging service, has named Goldman Sachs to arrange a listing
that is expected in the second quarter.
(10) CSMC, a chip foundry based in China's eastern Wuxi
city, is part owned by Singapore's Chartered Semiconductor
Manufacturing Ltd (SES:CSMF.SI - News). It has named Citigroup (NYSE:C - News) to
handle its planned IPO.
(11) Shenhua Group, China's largest coal producer, has
invited Merrill Lynch, Morgan Stanley, Citigroup and JP Morgan
to make underwriting pitches.
(12) Mengniu Dairy, based in Mongolia, has filed its
listing application with Hong Kong's stock exchange and could
be listed in April. BNP Paribas Peregrine and Morgan Stanley
are arranging the deal.
US$730.62 million from overseas initial public offerings so far
this year and plan up to a further US$21.5 billion over the
rest of 2004.
The total of US$22.2 billion would be almost triple the
US$7.5 billion raised from new share issues on the Hong Kong
exchange in 2003.
Following are the Chinese IPOs completed and announced so far.
Completed deals
------------------------------------------------------
COMPANY SIZE OF DEAL
China Oriental Group (HKSE:0581.HK - News) US$246.79 million
Shanghai Forte Land (HKSE:2337.HK - News) US$220.84 million
Weichai Power Co Ltd (HKSE:2338.HK - News; 1) US$148.72 million
Linktone Ltd (NasdaqNM:LTON - News; 2) US$85.96 million
China Green (Holdings) (HKSE:0904.HK - News) US$28.31 million
Total completed deals US$730.62 million
Upcoming deals
------------------------------------------------------
COMPANY ESTIMATED SIZE OF DEAL
China Construction Bank US$5-10 billion
Ping An Insurance (3) US$2 billion
China Netcom (4) US$1.5-3 billion
Semiconductor Manufacturing US$1.79 billion
International Corp (5)
Shenhua Group (11) US$1.5 billion
Minsheng Bank (Shanghai:600016.SS - News) US$1 billion
Air China (6) US$500 million
Shenzhen Energy (7) US$500 million
Tangshan Guofeng Steel Co Ltd (8) US$500 million
Tencent Technology (9) US$250 million
CSMC Technologies Corp (10) US$200 million
Mengniu Dairy (12) US$128 million
Chint Group Corp US$128 million
Total possible upcoming IPOs US$21.50 billion
Notes:
(1) Weichai Power, a diesel engine maker, will list on Hong
Kong's main board on March 11.
(2) Linktone, which provides wireless services for mobile
phone users, listed its shares on the Nasdaq exchange on March
4.
(3) Ping An Insurance, China's second-largest life insurer,
has applied to Hong Kong's stock exchange for a listing that is
expected by mid-May. BOC International, Goldman Sachs (NYSE:GS - News),
HSBC (HKSE:0005.HK - News; London:HSBA.L - News) and Morgan Stanley (NYSE:MWD - News) are handling
the share sale.
(4) China Netcom, the country's number-two fixed line phone
company, has named Goldman Sachs, Citigroup (NYSE:C - News) and CICC to
handle its planned listing.
(5) SMIC, China's largest chip maker, is marketing an IPO
worth up to US$1.79 billion. Its shares are expected to begin
trading in New York on March 17 (NYSE:SMI - News) and in Hong Kong the
following day (HKSE:0981.HK - News).
(6) Air China, the country's flagship carrier, has
appointed Merrill Lynch (NYSE:MER - News) and China International Capital
Corp (CICC) to arrange its IPO.
(7) Shenzhen Energy, which controls about 75 percent of the
installed capacity in the southern Chinese boomtown of
Shenzhen, has named JP Morgan (NYSE:JPM - News) to handle the planned
share sale.
(8) Steel maker Tangshan Guofeng is understood to have
picked JP Morgan to handle the listing.
(9) Tencent Technology, which runs China's most popular
messaging service, has named Goldman Sachs to arrange a listing
that is expected in the second quarter.
(10) CSMC, a chip foundry based in China's eastern Wuxi
city, is part owned by Singapore's Chartered Semiconductor
Manufacturing Ltd (SES:CSMF.SI - News). It has named Citigroup (NYSE:C - News) to
handle its planned IPO.
(11) Shenhua Group, China's largest coal producer, has
invited Merrill Lynch, Morgan Stanley, Citigroup and JP Morgan
to make underwriting pitches.
(12) Mengniu Dairy, based in Mongolia, has filed its
listing application with Hong Kong's stock exchange and could
be listed in April. BNP Paribas Peregrine and Morgan Stanley
are arranging the deal.
