Baosteel shows China's potential

The domestic IPO of Baosteel is a potent sign of the potential size and quality of China''s domestic capital markets.

Last weeks's A share offering by China's Baoshan Iron and Steel Company Baosteel is a record domestic equity offering and one of the most significant deals to come out of China this year. At Rmb7.7 billion $930 million the deal is twice as big as last year's Rmb4 billion A share deal for Shanghai Pudong Development Bank, previously the largest Chinese equity deal.

But in all things financial, it is not just size that matters, it is how you...

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