China vows to sell off state enterprises
Article Abstract:
China has indicated that it would like to improve profitability of its 370,000 state-owned enterprises (SOEs) through accelerated reform, including leasing, sell-offs and mergers. SOEs are looking to foreign investors and foreign stock exchanges for financial backing. Electronic and plastic manuafacturer Catic Shenzhen raised HK$380.6 million through its sale of 220 million H shares. Sichuan Expressway aims to raise finance to purchase two toll roads via a $200 million sell-off. The first signing to the Tokyo stock market will be Tianjin Automobile Industries, which plans to float in November 1997 for $300 million.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1997
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China equity powers ahead
Article Abstract:
Power companies in China are seeking entry to the Hong Kong stock market, although many will delay entry because of uncertainty over financial stability in the region. China International Power is investing in restructuring and management to ensure listing in Hong Kong during 1998. Tianjin municipal government hopes to raise $129.2 million with its sale of Tianjin Development Company (TDC). TDC is forecast to increase its profits from $26 million to $31 million in 1998, a rise of 63%. Taiwanese underwriters are entering the securities markets, bringing competition to the market.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1997
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China seeks first port H-share
Article Abstract:
The Chinese government is hoping to raise up to $200 million via the listing of Ningbo port's container and bulk cargo businesses on the Hong Kong Stock Exchange. The port's handling capacity is expected to be increased by 25% with the capital raised. The Ningbo sale may be delayed until 1999 as a result of the Asia financial crisis and restructuring work required. The Asian crisis has affected privatisations in the area, with a number of plans shelved for the moment.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1998
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