Metallurgical Corp of China seeks $2.5 billion from H-share IPO

Metallurgical Corporation of China MCC yesterday launched the formal roadshow for the H-share portion of an initial public offering that aims to raise a combined $5.3 billion and will result in a listing in both Hong Kong and Shanghai later this month. The company will start taking orders for the A-share portion today.

MCC is seeking up to HK$19.6 billion $2.5 billion from the H-share portion alone, which will make it the largest Hong Kong IPO since China Railway Construction Corp's $2.55 billion initial share sale in March 2008. If it prices towards the top end of the range and the greenshoe is exercised in full, it could even exceed CRCC's offering and...