chinablue-continues-recent-trend-and-prices-ipo-at-top

ChinaBlue continues recent trend and prices IPO at top

Investors attracted to the CNOOC brand and the company's expansion of methanol production.
September 24, 2006
ChinaBlue Chemical, the fertiliser unit of the MainlandÆs third largest oil and natural gas producer China National Offshore Oil Corp CNOOC, has fixed the price of its initial public offering at the top end of the indicated range for a total deal size of HK$2.66 billion $342 million.

The CNOOC name attracted a lot of attention to the offering and like other recent Hong Kong IPOs, ChinaBlue ended up heavily oversubscribed both by institutional and retail investors. CNOOC, which is also the parent of Hong Kong-listed CNOOC Ltd, will hold 62.7% of ChinaBlue at the time of listing or 59.4% if the greenshoe is exercised in full....
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