Asian Business Issues - Rants & Raves, Illusions & Collusions etc.
PetroChina plans Shanghai IPO in early Nov(Agencies/chinadaily.com.cn)Updated: 2007-10-15 15:11PetroChina, China's largest oil and gas producer, is expected to launch its initial public offer (IPO) in Shanghai next month, sources close to the deal said yesterday, according to today's Beijing Times.The roadshow for investors is likely to start around October 22 in Beijing, Shanghai and Shenzhen, as well as Guangzhou in consideration. And the shares listing will be in Shanghai in the first ten days of November, the sources said.On September 24, China's stock regulator approved PetroChina's plan to issue up to four billion new A shares in the offer, expected to raise around US$7-8 billion, making it one of China's biggest domestic IPOs. The total number of shares be issued is expected to reach 183 billion shares, behind Industrial and Commercial Bank of China's 344 billion shares, Bank of China's 253.8 billion shares, and China Construction Bank's 233.7 billion shares.The underwriters are CITIC, UBS and China International Capital Corporation Limited.Shares in Chinese oil firm PetroChina Co Ltd jumped almost 10 percent on Monday touching an all-time high of HK$18.26 per share, valuing the firm at as much as $418 billion.===================================Dali, the IPO is on track. Judging from the run up, do you foresee more upside from current level? Is it worth a speculative punt? Cheers~
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