XIAMEN FIT IMPORT & EXPORT CO., LTD.

CNHTC considers putting HK IPO on hold
click rate:3017 issue time:2007-03-10 08:12

Mar. 8, 2007 (China Knowledge) – China National Heavy Duty Truck Group Corp. (CNHTC) is considering launching its IPO on the Mainland, and putting its Hong Kong IPO on hold due to the higher valuation on the Mainland.

The company seeks to raise US$300 million to US$500 million from its IPO on the Hong Kong stock market in the first half of 2007. Merrill Lynch, Deutsche Bank, Morgan Stanley and Bank of China have been appointed to be sponsors for the share sale.

Heavy Duty Truck may inject all its assets into its Shenzhen-listed unit Jinan Truck for an A-share listing, according to Mainland newspaper 21st Century Business Herald. In March 2005, Heavy Duty Truck transferred the Weifang Diesel Engine Factory, which owns 23.5% of Weichai Power, to the Shandong government to clear way for its listing.