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China Communications Cons to issue 1.6 bln A shares

Jan. 31, 2012 (China Knowledge) - China Communications Construction Co Ltd<1800>, which operates transportation infrastructure and heavy machinery manufacturing businesses, said yesterday that it plans to launch an initial public offering on the Shanghai Stock Exchange to raise up to RMB 5 billion.

The company plans to issue up to 1.6 billion A shares in the deal, which is equivalent to about 10% of its enlarged share capital, according to a prospectus.

China Communications Construction intends to sell 220 million A shares to strategic investors, 438 million A shares to institutional investors and 438 million shares to individual investors. In addition, 504 million A shares will be used to acquire Road & Bridge International Co Ltd<600263> through a share swap.

A roadshow and price inquiry is scheduled from February 1 to February 10. The firm will receive offline subscription from February 14 to February 15 and online subscription on February 15.

China Communications Construction is mainly engaged in four segments, namely, infrastructure design, infrastructure construction, dredging and equipment manufacturing.

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