Sought after new building materials giant Beijing Jinyu or will be available - Building Materials, C

Sought after new building materials giant Beijing Jinyu or will be available - Building Materials

, C

Operations for nearly 4 years old Jinyu Group as a whole listing has been realized. According to the latest news in Hong Kong, Jinyu Group set up a listing platform?? Beijing Jinyu shares (the "Beijing Jinyu"), upcoming on the 17th this month in Hong Kong public offering, if all goes well, the company will in the next 29 officially listed on the Hong Kong Stock Exchange. This will be the year the first successful IPO in Hong Kong and mainland real estate company.

According to the news media in Hong Kong, Beijing Jinyu is already ahead of the implementation of the offer price range of between 5.8 to 6.38 Hong Kong dollars, according to this price range, Beijing Jinyu listing will be raised up to 5.95 billion Hong Kong dollars.

Sought after by investors It is understood that the present Beijing Jinyu to Hong Kong IPO of global man-made sole sponsor UBS, the same time, UBS, Macquarie and JP Morgan are listed as links Beijing Jinyu bookrunner.

According to its sponsor UBS report, based on the company's recurring revenue, the company forecast 2009 earnings ratio of 12.8 times to 17.8 times between. However, the forecast does not mean the end of the market of Beijing Jinyu price range, and in accordance with established practice, the report made by the syndicate earnings forecast, usually higher than the listing price-earnings ratio forecast range.

Due to Hong Kong IPO this year, the first mainland real estate company, Beijing Jinyu based investors scramble for the seats were a number of institutions. The basis of the earliest investors exposure to the Bank of China [4.51-0.66%] (03988.HK) subsidiary of the Bank of Investment and China Life [29.36-1.04%] (02628.HK), two each subscription of 50 million U.S. dollars and 1 billion of its shares. Alleged that both parties are still negotiating the number of shares for the subscription, purchase enthusiastically as the Bank of China and China Life shares available value, may eventually be reduced to every 30 million to 40 million U.S. dollars.

Addition, Och-ZiffCapitalManagement (OZ), US-owned Texas Pacific [19.65-0.20%] (TPG) and a conglomerate in Southeast Asia was on the list, each of the three companies involved in the subscription amount is at least 30 million U.S. dollars ( about 234 million Hong Kong dollars), and the three companies have the opportunity to turn into a major investor (who does not lockups of shares).

Separate sources, the Government of Singapore Investment Corporation (GIC), the world's largest asset management company CapitalGroup, the United States and the Korean Investment Fund WellingtonManagement Future Global Investment (Mirae) and other investors will form the basis of shares, each involving at least information 25 million U.S. dollars (about 195 million Hong Kong dollars). Meanwhile, the market rumors that Volvo intends to become a mainland based investors, Beijing Jinyu.

In fact, as early as the end of 2005 Jinyu Group shareholding system will have already spotted a number of enterprises within Beijing Jinyu development prospects, the identity of shares to strategic investors, companies grab opportunities. These enterprises include the China National Materials Science and Industry Group, the North Development Group and the Tianjin Building Material Group, and as a peer Hopson (00754.HK). It is understood that the present main business of Beijing Jinyu include cement business, new building materials, real estate development and property management, in which the proportion of the roughly four business 4:3:2:1.

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