HK IPOs revive

Two Chinese companies test Hong Kong IPO appetite after summer lull

Zhengzhou Coal Mining Machinery and Fosun Pharmaceutical — both already listed in Shanghai — seek to raise a combined $1 billion through their offerings.
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Zhengzhou Coal is a leading maker of mining and excavating equipment in China
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<div style="text-align: left;"> Zhengzhou Coal is a leading maker of mining and excavating equipment in China </div>

Bankers started pre-marketing yesterday for Zhengzhou Coal Mining Machinery, which is aiming to raise about $400 million to $500 million from its initial public offering in Hong Kong, a source said.

Separately, Fosun Pharmaceutical is expected to start pre-marketing sometime next week for its IPO of about $500 million to $600 million, according to other sources.

The two companies aim to list their shares in Hong Kong next month and, if successful, may help revive Hong Kong’s IPO market, which has been quiet since the summer. They will also be the first IPOs of size since Inner Mongolia’s Yitai Coal raised HK$7 billion $902 million...

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