Asia
Iron Ore Miner Fujian Makeng Mining Files For Shanghai IPO
Fujian Makeng Mining (SHA:601123) has submitted its prospectus for an initial public offering on the Shanghai Stock Exchange.The Fujian province-based iron ore miner plans to issue 123.5 million shares, accounting for a 10% stake post-IPO, according to the prospectus filed Thursday.The comany will launch the IPO on Aug. 21, with CITIC Securities acting as sponsor and lead underwriter.Proceeds from the IPO will be used to invest in its Makeng iron ore mining and beneficiation capacity expansion project, adding 5 million tons of iron ore mining and beneficiation capacity annually.
SHA:601123
