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China Confidential - Premium Investment Insight
22 August 2012

Shenzhen-based Meilan International Holdings plans to raise between $100m and $150m in Hong Kong’s first dual-currency initial public offering (IPO) despite weak investor appetite for the renminbi and new Chinese listings. The chemical producer aims to issue offshore renminbi (CNH) and Hong Kong dollar-denominated shares later this year. Meilan is among one of three Chinese companies planning a dual-currency IPO in Hong Kong, according to the International Financing Review. However, we believe that this move is unlikely to gain much traction.



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