Lines between H shares and redchips blur
Article Abstract:
The sharp decline in share prices on the Hong Kong stock market has had a negative impact on Chinese companies planning privatizations. Yanzhou Coal Mining and China National Aviation have dropped plans to come to the market in the first week of Nov 1997, and it is also believed that H share steel concerns Panzhihua Iron and Steel (Pangang) and Wuhan Iron and Steel (Wugang) will postpone listing plans until 1998. Worries about pricing and accounting standards have led to the postponement of plans by Tianjin Automobile Industry to become the first mainland Chinese company to list in Tokyo, Japan.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1997
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China curbs fail to hit sentiment hard
Article Abstract:
China's attempts to prevent speculators trading shares on the stock market have not been successful. Shares in Jiangxi Copper fell 7.8% after ABN-Amro Hoare Govett, which was sponsoring Jiangxi, withdrew, confirming worries about falling copper prices and the instability of Jiangxi. First Tractor is due to float on the stock market on June 23 1997 and hopes to raise US$174.5 million by selling 300 million shares at HK$4.50 each. Beijing Yanhua wants to raise $293.3 million by selling 1.012 billion H shares.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1997
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Comment about this article or add new information about this topic:
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