chongqing-machinery-plans-200-million-ipo

Chongqing Machinery plans $200 million IPO

One of western ChinaÆs largest industrial conglomerates seeks capital to increase production capacity.
Unaffected by last week's earthquake in western ChinaÆs Sichuan province, Chongqing Machinery and Electric Co, has launched pre-marketing for a Hong Kong listing that is expected to raise about $200 million. Sources say that the company will use the money to expand its production lines, many of which ôare running at 100%ö.

Based in the city of Chongqing in Sichuan province, the company is one of western ChinaÆs largest industrial conglomerates in terms of revenues. It designs, manufactures and sells machinery that fall into four categories components for commercial vehicles equipment for power generation computer numerical control machine tools and general machinery. Its strategy for growth is to branch into machinery products that have traditionally...
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