Steelmaker IPO

China Group Company Limited, one of the major steel billet suppliers on the Chinese mainland, will commence its public offer to Hong Kong investors today. The company's global offering of 700 million new shares consist of a Hong Kong public offer of 70 million shares and an international offer of 630 million shares, subject to reallocation based on demand. The offer price will be between 2.10 HK dollars (27 US cents) and HK$2.75.