Groups bid for Netcom listing

China International Capital Corp, Galaxy Securities and Citic Securities have all submitted proposals to underwrite an A-share offering by China Netcom, state media reported. The listing is most likely to take place in Shanghai, although the timing ultimately depends on the re-launch of domestic offerings following a year-long hiatus. The company needs to raise funds to pay for infrastructure developments relating to the Olympic Games and the roll-out of 3G. Netcom is said to have been awarded contracts to provide communications for the Beijing 2008 media village and national convention center. The company is already listed in Hong Kong but mainland firms are being urged by the government to make an appearance in Shanghai in order to revive domestic markets.