China Oriental Group, whose only asset is a 97.6% stake in Jinxi Iron & Steel in Hebei province, is planning to raise US$200 million to US$300 million in February in a global share offering.
The company is expected to post net profit growth of 29.7% this year and 20.2% next year, according to a report by underwriter JP Morgan.
Last year's profit is estimated to have grown a year-on-year 169.5% to RMB 1.04 billion.