SteelOrbis Shanghai
China's state-run newspaper Shanghai Securities News reports on Thursday, January 11, 2006 that preparatory work has commenced for the public offering of shares in
Baosteel Group, with the New York Stock Exchange indicated as the venue for the sale.
However since a lot of preparation needs to be done prior to overseas listing, the preliminary procedures are expected to take time.
Citing unspecified sources, the Chinese newspaper said that
Baosteel Group was hoping to hold an initial public offer of shares by around November.
Baosteel officials have declined to comment on the report.