Sinopec Engineering to launch Hong Kong’s largest IPO this year

The engineering and construction arm of Asia’s largest refiner will start pre-marketing for an IPO of about $1.5 billion tomorrow. Meanwhile, Galaxy Securities delays its planned launch as CSRC approval and cornerstones aren’t yet in place.

Sinopec Engineering to launch Hong Kong’s largest IPO this year

It has taken a while, but Hong Kong’s first billion-dollar IPO this year is finally about to hit the market. And with a number of other large deals in the pipeline, it is under a lot of pressure to do well.

The one to test the market and investor appetite is Sinopec Engineering, a spinoff from state-owned oil and gas giant China Petrochemical Corp Sinopec Group that focuses on the construction of refineries.

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