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Zhejiang Wanma to start road show, 2nd IPO this year

(Agencies)
Updated: 2009-06-30 15:29

Chinese information equipment maker Zhejiang Wanma Cable Co said it will start a road show Thursday for its initial public offering, the second planned listing to be disclosed since China's IPO market reopened last week.

Zhejiang Wanma said in a statement Wednesday it will sell up to 50 million new A shares in the offering, but it didn't say how much it plans to raise. It said the subscription for the shares will be July 2 and its shares will be listed on the Shenzhen bourse.

Medicine company Guilin Sanjin Pharmaceutical Co started a road show for its 46 million A shares Monday after it received approval from China's securities regulator last week.

Both listings are relatively small because Beijing is being cautious about the effects of new listings on domestic bourses, with the benchmark Shanghai index up more than 50% since the start of the year.