Metallurgical Corp A-share listing approved

Metallurgical Corp of China received approval from the China Securities Regulatory Commission (CSRC) for an A-share initial public offering, bringing the firm one step closer to a dual listing that could raise as much as US$4 billion, the South China Morning Post reported. The CSRC on Wednesday gave the go-ahead for the resources and construction unit of China Metallurgical Group Corp to float 2.5 billion shares and raise about US$2.5 billion in a Shanghai listing. Representatives from the firm will attend a listing hearing today in Hong Kong regarding its H-share offering. The A-share prospectus said it planned to offer 2.6-3 billion H shares. The dual listing could be the world’s second-largest IPO this year, following China State Construction Engineering Corp’s US$7.3 billion A-share IPO last month.