Sinochem seeks $5.5 billion from Shanghai IPO

The flow of big initial public offerings from China’s state-owned companies continues despite the weak market conditions. Sinochem Corp, the country’s biggest supplier of chemical products, is bravely pushing ahead with a new Rmb35 billion ($5.5 billion) IPO in Shanghai, less than a month after the massive $2.1 billion IPO of Sinohydro, a builder of hydroelectric dams.