Stocks News
- Shanghai News
Date: 21-Jun-2007 Sources: (Shenzhen Daily)
THE Shanghai initial public offering (IPO) of China COSCO Holdings Co., the flagship of China's premier shipping group, attracted massive demand and was 100 times oversubscribed, the company said yesterday.
The A shares were priced at the top of an indicative range of 7.60 to 8.48 yuan, but were still at a sharp discount to the HK$10.88 last traded price of the company's Hong Kong-listed H shares. China COSCO raised 15.1 billion yuan (US$2 billion) by selling 1.784 billion A shares, or 20 percent of its expanded share capital.
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