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Overseas Chase - China - Truckmaker lifts IPO mark to $3.9b in
Hong Kong,China -The Standard, by Wong Ka-chun & Carol Chan -May 22, 2006: -- China National Heavy Duty Truck, the third largest heavy truck manufacturer in the mainland, plans to raise up to HK$3.9 billion through an initial public offering in Hong Kong by the end of the year to boost production capacity, bankers familiar with the situation said... The company is in the process of an internal restructuring ahead of the listing and hopes to submit the application to the Hong Kong stock exchange soon... It will identify itself as a red-chip company to proceed with the listing, instead of a H-share firm, one banker said... Red-chip companies refer to firms incorporated outside the mainland and listed in Hong Kong...
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