China’s Wison Engineering launches IPO to raise about $175m

13 December 2012 07:51  [Source: ICIS news]

SINGAPORE (ICIS)--China’s leading petrochemical engineering company Wison Engineering Service on Thursday launched an initial public offering (IPO) that will raise approximately Hong Kong dollars (HK$)1.36bn ($175.5m) to finance its future developments.

Under the plan, it will issue 600m shares; with around 10% to Hong Kong public investors and the remaining 90% to global institutional investors.

The deadline for subscription ends on 18 December, an IPO document showed.

The company said it is China’s largest private provider of chemical engineering, procurement and construction (EPC) management in terms of revenue for 2011.

Wison main focus is on three industries; petrochemicals such as olefins and aromatics, oil refining that processes crude into oil products and coal-to-chemicals such as coal to methanol, methanol to olefins (MTO).

The public shares will debut on Hong Kong Stock Exchange on 28 December, according to the company.

($1 = HK$7.75)
By: Fanny Zhang
+65 6780 4359

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