China Metallurgical plans $2.7 bln dual listing-paper06.22.09,...

China Metallurgical plans $2.7 bln dual listing-paper
06.22.09, 12:04 AM EDT



HONG KONG, June 22 (Reuters) - China Metallurgical Group Corp is expected to raise HK$20 billion (US$2.7 billion) in a dual listing in Hong Kong and Shanghai in October, a Hong Kong newspaper reported on Monday.

The Chinese natural resources group has submitted an application to the Hong Kong Exchange for a listing of H shares, to raise about US$1.3 billion in Hong Kong, Apple ( AAPL - news - people ) Daily reported, citing market sources close to the deal.


Morgan Stanley ( MS - news - people ) will handle the H-shares offering and CITIC Securities is the sponsor of its A shares, the newspaper said. It gave no further listing details.

China Metallurgical Group, a joint venture partner of CITIC Pacific's steel mining projects in Australia, involved in natural resources, scientific research, and industrial engineering, is a key contractor in a number of steel projects in China and abroad, according to the company's website