Biz Scene: Grapevine

HK offering

Chinese gas distributor Yingde Gases plans to sell $400 million worth of shares in an initial public offering in Hong Kong in November, the South China Morning Post reported yesterday.

The newspaper quoted sources as saying the deal could be raised to $500 million, given abundant liquidity and strong appetite for gas and energy offerings.

Shanghai listing

Jinchuan Group Co, Asia's biggest nickel producer, plans to raise about 30 billion yuan in an initial public offering in Shanghai to fund acquisitions and expansion, Bloomberg reported, citing two people involved in the sale.

Jinchuan, based in Northwest China's Gansu Province, aims to make its debut in the next 10 months, said the sources.

The sale will be arranged by Guotai Junan Securities Co, they said.

(China Daily 10/25/2007 page15)