Biz Scene: Grapevine

Nickel share

Chinese nickel producer, Xinjiang Xinxin Mining Industry Co Ltd, plans to raise as much as $500 million after setting a price range of HK$4.8 to HK$6.5 for its Hong Kong initial public offering, Reuters reported yesterday, citing a source familiar with the deal.

The company, which kicked off a marketing roadshow, is offering 600 million shares, or 31 percent of its enlarged share capital, the source said.

(China Daily 09/25/2007 page15)