MCC plans to go public in June

Published: 17 Mar 2009 00:53:49 PST

2009-03-17

MCC Mar.17 MetalBiz—China Metallurgical Group Corporation (MCC) plans to go public on the Hong Kong bourse at the end of June this year and expects to raise $3 billion, sources reported.

The company is to apply for listing in this month, quoted an unidentified source.

The company's original plan was to make IPO first on Shanghai bourse and later on the Hong Kong bourse to altogether raise 30 billion Yuan.

IPO on the Shanghai and Shenzhen bourses has been suspended for half a year. Therefore, MCC decided to apply for listing first in the Hong Kong bourse.

It is reported that the sponsors include Morgan Stanley, China International Capital Corporation (CICC), Citibank and CITIC Securities.

MCC is mainly engaged in EPC (engineering, procurement and construction) business, natural resources exploitation, papermaking, equipment fabrication, real estate development and provision of the related services.