【the brotherhood nantucket ma】Oversea Unit of World’s Largest Tobacco Producer Eyes Hong Kong IPO
Investing.com - Thethe brotherhood nantucket ma world’s biggest cigarette maker, the state-backed China National Tobacco Corp. (CNTC), is reported to be planning to list its international unit in Hong Kong.
The unit, China Tobacco International, is primarily responsible for buying overseas tobacco leaf from countries like Brazil and Canada and sell them to Chinese manufacturers. The international unit only accounts for “a tiny portion” of China National Tobacco’s overall business, according to reports.
Citing an unnamed source, Reuters reported that the listing would raise about $100 million for the unit. The company’s listing document did not give details of how many shares would be issued, or when the listing would take place.
This comes as an unexpected move as the Chinese government is piling more pressure to reduce smoking in public space.
The unit recorded a profit of HK$222.3 million ($28.4 million) for the first nine months ended in September.
CICC and China Merchants Securities are joint sponsors for the IPO.
Related Articles
CBS News President David Rhodes steps down, Susan Zirinsky to assume role
Stocks ride relief rally, Sino-U.S. trade a hurdle
Tesla to break ground on Shanghai Gigafactory today, CEO Musk says
View comments
本文地址:http://863192.manful-electronic.com/news/320b499675.html
版权声明
本文仅代表作者观点,不代表本站立场。
本文系作者授权发表,未经许可,不得转载。