(Issue road show starts on June 19 not 29 - penultimate para)
SHANGHAI, June 16 CITIC Heavy Industries Co,
China's fourth-biggest maker of heavy machinery, will launch a
4.13 billion yuan ($648.85 million) initial public offering on
the Shanghai Stock Exchange in June, according to a prospectus
published late on Friday on the exchange's website.
If successful, it will be the second-largest A-share IPO in
Shanghai this year, behind a 5 billion yuan offering by China
Communications Construction in February.
CITIC Heavy had originally planned to raise 6 billion yuan
but decided to slash its fundraising target by 31 percent after
taking into account current market conditions. It won approval
for the IPO at the end of March.
The company, which competes with bigger rivals, including
China First Heavy Industries and Taiyuan Heavy
Machinery Group Co, aims to sell up to 685 million shares, or 25
percent of its equity, to fund future expansion plans.
CITIC Heavy has appointed Zhong De Securities Co, a Chinese
joint venture of Deutsche Bank and CITIC Securities
, China's biggest listed brokerage, as lead
underwriters for the IPO.
The issue's road show is scheduled to begin on June 19 and
price by June 27. It will trade under the ticker 601308.SS.
($1 = 6.3651 yuan)
(Reporting by Pete Sweeney and John Ruwitch; Editing by Ron