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According to Hong Kong media reports, following the successful listing of Rusal in Hong Kong, another heavy aluminum group is also preparing to come to Hong Kong for listing. According to market sources, Weiqiao Aluminum, which is the largest privately owned alumina producer in the Mainland, has submitted a listing application to the Hong Kong Stock Exchange. The amount of funds raised may be as high as US$1 billion (about 7.8 billion Hong Kong dollars). The IPO will begin in October. Weiqiao Aluminum is affiliated to Shandong Weiqiao Group, which is controlled by the Zhang Shiping family. It also has Weiqiao Textile which has been listed.
Weiqiao Aluminum, which mainly produces alumina, is the leading competitor of Chinalco. According to the company's online information, Weiqiao entered the aluminum industry in 2003. After investing 10 billion yuan (RMB. The same below), the output in 2008 has reached 2.5 million tons, although the scale is about 900. More than 10,000 tons have a long distance, but it is already the second largest aluminum factory in the mainland, and it is also the "big brother" in the private aluminum factory.
Although the production capacity of Weiqiao Aluminum is far from that of Chinalco, the cost-effectiveness of private enterprises is far superior. Some mainland aluminum industry sources revealed that while Chinalco had a large eclipse of 4.6 billion yuan last year, Weiqiao Aluminum was still profitable. This year's net profit is estimated to have a chance of more than 4 billion yuan. According to the above analysis, the parent company Weiqiao Group itself also invested in thermal power plants, so the maximum cost of electricity for alumina was effectively controlled. The average price of Weiqiao Aluminum's products is also lower than that of Chinalco. Therefore, many large-scale aluminum profile producers in the Mainland, such as Zhongwang, prefer to place an order with Weiqiao.
The cost wins this year, an estimated 4 billion
According to market sources, Weiqiao Aluminum has submitted a listing application to the Hong Kong Stock Exchange in the near future. If all goes well, it can be offered as soon as possible in October or before. At present, there is no final decision on the amount of funds raised, but the initial plan is more than $1 billion. Listing underwriting investment banks include JP Morgan Chase and ICBC International.
Weiqiao Group, the parent company of Weiqiao Aluminum, started in Zouping County, Binzhou City, Shandong Province. The founder Zhang Shiping made a fortune with cotton, and later acquired a state-owned factory and turned into Weiqiao Group. Zhang Shiping has been very low-key. In the Hurun Rich List, he only entered the list in 2008, but ranked in the top 100. Zhang Shiping began to intervene in the aluminum industry in 2003, and also listed his textile business, Wei Wei Textile, in Hong Kong. At that time, he raised about 2.5 billion yuan in one fell swoop, and he was quite sought after by retail investors. At present, Wei Wei Textile is the world's largest cotton spinning enterprise with a net profit of about 890 million yuan last year.
The fastest before October
Weiqiao Textile is currently in charge of daughter Zhang Hongxia. As for the Weiqiao Aluminum Industry to be listed, Zhang Bo is responsible for the visit. Zhang Shiping has rarely visited the guests in recent years. However, when President Hu Jintao visited Weiqiao Textile in the previous year, Zhang Shiping still personally received it. If Weiqiao Aluminum is listed successfully, the market value will have a chance of tens of billions of yuan. By then, the ranking of the Zhang Shiping family in the mainland rich list will likely rise to the top ten.
The largest private aluminum company in the mainland, Weiqiao Aluminum, went public in Hong Kong
On August 11th, the market news revealed that Weiqiao Aluminum, which is the largest private alumina producer in the Mainland in terms of production capacity, has submitted a listing application to the Hong Kong Stock Exchange recently. The amount of funds raised may be as high as 1 billion US dollars (about 7.8 billion). Hong Kong dollar).