Baosteel shows China's potential

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.