Chalco starts Asian equity calendar on a high

New records were set yesterday (Tuesday) by an increased 550 million share placement for China's largest alumina and aluminium producer, Chalco. The $400 million transaction represents the largest ever H share placement, beating the previous record holder, Huaneng Power by some margin. Indeed, there have only ever been two placements above $100 million before - a $142 million issue for Huaneng Power in February 1998 and a $134 million issue for Shanghai Petrochemical in August 1996.