The Wall Street Journal 04 June 2013
SHANGHAI–Chinese state-owned metal firm Baiyin Nonferrous Metals Group Co. plans to raise between 3 billion yuan ($489 million) and 4.5 billion yuan from an initial public offering ahead a listing in Shanghai, a statement from the firm showed Tuesday.
The Gansu, northwest China-based producer of copper, lead and zinc plans to use IPO proceeds on capacity expansion and acquisitions, it said in an application to the Ministry of Environmental Protection for an inspection, which was posted on the ministry’s website.
Chinese companies whose operations affect the environment must get their operations inspected and approved by the environmental protection ministry before seeking listing approval from the securities regulator.
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Baiyin Nonferrous Metals Plans up to CNY4.5 Bln Shanghai IPO
