Sinotrans journeys to flotation

China''s sprawling transportation giant, Sinotrans, is planning an international listing.

Jackie Horne

April 30, 2001

The company is said to be in the final stages of deciding which banks will lead manage a roughly $500 million to $600 million offering. One out of three international banks shortlisted - Deutsche, HSBC and Salomon Smith Barney - is expected to be selected alongside one local bank - either BOCI or CICC.

A fourth quarter listing on the Hong Kong Stock Exchange has been targeted, although this may prove a little optimistic given the restructuring work that is said to be involved. At the moment, the company is also said to be undecided whether to combine the offering with an ADR and which of its many assets should be included in the listing vehicle.

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