Mer 9 Mai 2012 01:30
Metals group to launch $5.5b IPO
Wednesday, May 09, 2012
China Nonferrous Metal Mining (Group) Co Ltd seeks to list its Zambian copper assets in Hong Kong. It hopes to raise up to HK$5.5 billion.
The output at the company's two copper mines - Luanshya and Chambishi - as well as two smelting plants is estimated at a minimum 80,000 tons this year, up 60 percent from 2011.
The state-owned metals group has started promoting the long- awaited initial public offering that was originally scheduled for last year.
The stock is expected to trade at 10.7 to 14.1 times price-earnings ratio.
This is more aggressive than domestic miner Jiangxi Copper (0358), which traded at 7.75 times P/E ratio yesterday.
A roadshow is expected to start on May 14.
GRACE CAO
Source : http://www.thestandard.com.hk/news_deta ... 20509&fc=2