Sinoma places shares to six investors

Sinoma places shares to six investors
03 December 2007

China’s largest cement production equipment manufacturer China National Materials Group Corporation (Sinoma) has chosen 6 investors to take up 20% stake of its international placement, says market source.

The source disclosed that the 6 basic investors are China Life Insurance, Government of Singapore Investment Corporation (GIC), Leslie Lee Alexander-owned Grahamstowe Investment, Industrial and Commercial Bank of China (ICBC), China Communications Construction and Citigroup. These investors will take up the 20% stake with a lock-in period of 12 months.

The source adds that Sinoma plans to raise US$700 million in total.
Published under Cement News