China's CNCE to list in Shanghai; launches IPO of 1.23bn shares
18 December 2009 07:54 [Source: ICIS news]
GUANGZHOU (ICIS news)--China National Chemical Engineering Co (CNCEC) - a contractor of chemical, oil and power projects - will list on the Shanghai Stock Exchange (SSE) next year, the company said on Friday.
The company would launch an initial public offering (IPO) of up to 1.23bn shares next week. Proceeds of the IPO would be used for general working capital of key projects, it said in a disclosure to SSE.
Prices of the offering would be determined on the basis of institutional investors’ bids on 21-22 December while a formal debut was expected early next year, the company said.
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