China Petroleum & Chemical Corp (0386) is likely to put off listing its petrol station and convenience store unit valued at more than US$5 billion (HK$39 billion) to next year.
The initial public offering of Sinopec Marketing Corp is unlikely to take place until 2016, following the retirement on May 4 of former chairman Fu Chengyu who was an ardent supporter of the plan, The Wall Street Journal reported yesterday.
Shanghai-listed HTSC, China's fifth largest securities firm by total assets, will kick off the road show for its H-share sale next Monday, a source said.
The broker has reportedly raised its fundraising target from HK$1.56 billion to more than HK$3.12 billion amid the stock rally. HTSC is to be followed by Hebei-based road construction machinery maker D&G Technology Holding, which opens its retail book on Thursday. Shares will be be priced between HK$1.72- HK$2.08 apiece and it will be seeking up to HK$312 million JENNIFER LI