Chinese company aims to raise $1 billion

The largest maker of aluminum extrusion products in Asia will test whether appetite for initial public offerings has genuinely returned when it begins marketing Monday for a deal to raise asmuch as $1 billion, which would make it the world¡¯s biggest new issue since August.

The global stock rally over the past six weeks has coaxed a handful of companies to dip their toes into the I.P.O. market after months of inactivity; most recent share issues, however, have been in the $100 million to $150 million range.
China Zhong Wang, which makes products like window frames and railroad car components, is positioned as a Chinese economic recovery play and hopes to take advantage of the recent surge in Hong Kong market trading volume.

Zhong Wang will begin its investor marketing road show Monday in Hong Kong, with pricing of its shares scheduled for April 30 and listing intended for May 8. The deal is expected to raise between $700 million and $1 billion, people familiar with the details said. The people could not be identified because they were not authorized to speak to the media on the matter.

The company earned 1.9 billion yuan, or $278 million, in 2008 on revenue of 11.3 billion yuan, compared with earnings of 852 million yuan on sales of 7.5 billion yuan in 2007, a person familiar with the deal said.

Last year it generated 41 percent of revenue and 58 percent of its profit from the transport sector, the person said.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.