China Rongsheng Heavy Industries is tipped to become another hot favorite in the local initial public offering market, as it is expected to benefit from China's new Five-Year Plan and is priced reasonably.
The firm yesterday introduced two more cornerstone investors - tycoon Cheng Yu-tung's Chow Tai Fook and CC Land (1224). Each agreed to subscribe for US$50 million (HK$390 million) worth of shares, sources said.
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