Two Chinese companies seek $541 million from HK listings

BMW dealer Yongda Auto is aiming to raise at least $306 million, while copper producer China Nonferrous Mining is seeking at least $235 million from the first listing of Africa-based mining assets in Hong Kong.

Two Chinese companies seek $541 million from HK listings

Concern about the fallout from the debt crisis in Greece and weaker economic data out of China led investors to take more risk off the table yesterday, pushing Hong Kong stocks lower for the eighth straight session. The Hang Seng index, which closed below 20,000 points for the first time since January 19, has now lost 7.4% since May 2.

It is hardly the most conducive environment in which to attempt an initial public offering,...

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