Metals firm seeks $900 million

HONG KONG - China Hongqiao Group Ltd, the country's largest privately owned aluminum producer, is seeking to raise about $900 million in a renewed bid to sell shares in Hong Kong, according to two people with knowledge of the matter.

The stock for sale in the initial public offering represents about 15 percent of the company, said the people, who declined to be identified before an announcement.

The IPO will follow those of United Co Rusal and Aluminum Corp of China Ltd in tapping Hong Kong investors keen to buy into rising demand. IPOs in the city may raise as much as HK$350 billion ($45 billion) this year, according to PricewaterhouseCoopers LLP.