免费日韩片_欧美成人精品一区二区男人小说_国产乱码一区二区三区四区_国产精品国产三级国产aⅴ入口_成人看的污污超级黄网站免费_欧美一级在线免费观看_成人午夜免费无码福利片_国产乱人伦偷精品视频色欲_aaa少妇高潮大片免费看_国产精品1234_亚洲精品国产suv一区88_中文字字幕在线中文无码_精品亚洲区_午夜九九九_国产av国片精品jk制服丝袜_色综合亚洲_亚洲成av人片无码bt种子下载_欧美色就色_精品少妇的一区二区三区四区_男人用嘴添女人下身免费视频

Company chooses IPO underwriter
By Chen Hong (China Daily)
Updated: 2004-03-11 09:52

US financial giant JP Morgan has been selected as the lead underwriter and global co-ordinator for the overseas IPO (initial public offering) arrangement of Shenzhen Energy Group, one of the city's largest and most profitable State-owned enterprises.

This is the first official announcement, made through two local government-backed newspapers, confirming market speculation that Shenzhen Energy Group will seek an overseas listing.

The government invited eight strong investment banks and financial institutions from home and abroad to bid for the project, rather than the widely accepted one-on-one negotiation, on February 25. The move aims to ensure transparency, justice and fairness, according to a report by Shenzhen Special Zone Daily.

The eight big names include Morgan Stanley, JP Morgan, Deutsche Bank AG, BOC International, Citibank, Goldman Sachs, UBS and China Capital Investment (Group) Co. The first five accepted the bidding invitation.

JP Morgan won the project in the first round after five of the nine-member appraisal committee, which was formed by government officials and experts, voted for the firm.

"We have set the criteria in five areas to decide the winner, such as how they evaluate the energy group, whether they could attract international institutional investors faithful to the company, considerations for proper IPO timing as well as their experiences," an official with the city's reform and development office was quoted as saying in the report.

Shenzhen Energy, which controls about three-quarters of the city's installed electricity capacity, is planning an IPO in Hong Kong that could raise about US$500 million, according to a source close to the company. Its listing could take place by the end of this year.

It will be the first Hong Kong-listed State-owned enterprise from the city in the past decade since Shenzhen Expressway's successful IPO in 1994.

Huaneng Power, China's biggest independent power producer, bought 25 per cent of Shenzhen Energy last year for 2.39 billion yuan (US$288 million) through an international bidding process. The rest of the company's shares are held by the local government.

Close