Biz Scene: Market

China Daily | Updated: 2007-10-26 07:04

IPO price

PetroChina, the country's largest oil and gas firm, yesterday set a price for its initial public offering that is expected to raise at least $5 billion.

The company, already listed in Hong Kong and New York, gave an indicative price range of 15 to 16.7 yuan apiece for up to 4 billion yuan-denominated A shares in Shanghai, a statement said.

PetroChina kicked off its A-share subscription to institutional investors yesterday and will start sales to retail investors today.

Sales rise

Guangzhou Honda, a Sino-Japanese auto joint venture based in South China's Guangdong Province, has edged into fourth place in car sales in China, reaching 32,322 units in September.

The figure was a 29.1 percent increase over the same period of last year, and 56.7 percent over the previous month, according to the latest statistics from the National Passenger Car Information Exchange Association.

Sales of four brands of cars of Guangzhou Honda reported hefty growth in September. They were Accord cars, with sales reaching 12,466 units, 08-City with 7,773 units, a new model of Fit with 6,839 units, and the Odyssey MPV with 5,244 units.

(China Daily 10/26/2007 page15)