China's Yunnan Three Circles to list by end-2006

16 May 2006 05:49  [Source: ICIS news]

SINGAPORE (ICIS news)--Yunnan Three Circles Chemicals, a Chinese fertiliser producer, could be listed in Hong Kong by end-2006, a source from parent company Yunnan Yuntianhua Group said on Tuesday.

She could not say how much money would be raised through the initial public offering (IPO), although media reports put it at $300m (Euro234.1m).

The company’s production base is at Kunming, Yunnan province, where it can produce 1.39m tonne/year of sulphuric acid, 450,000 tonne/year of phosphoric acid, 150,000 tonne/year of refined phosphoric acid and various other chemicals.

ICIS news reported earlier that China National Offshore Oil Corp (CNOOC), a Chinese oil and gas major, had received approval from the Chinese Securities Commission to list its fertiliser unit CNOOC Fudao on the Hong Kong Stock Exchange.

CNOOC is to float 25% of its fertiliser unit in a $400m IPO May, according to media reports. A spokesman at the company declined to confirm this.

By: Florence Tan
+65 6780 4359

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