Weichai Power pre-marketing to start Monday

The diesel maker powers up for a March listing.

One of China's principal diesel engine manufacturers Weichai Power Co Ltd will take a step closer to its approximately $100 million IPO on Monday February 9 when pre-marketing gets underway via joint global co-ordinator CLSA and sponsor and book runner Citic Capital.

Pre-marketing will run through to February 17 when an indicative price range will be announced. The public offering will run from February 26 to March 2. The 110 million share offering will have the standard 9010 split between the private placing and a public offer.

Bankers will be using New York-listed China Yuchai International CYD as one point of comparison. Yuchai trades at 15 times 2004 earnings and...

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