According to the South China Morning Post, Jacky Chun, chairman and CEO of China Metal Recycling (Holdings) Ltd, says that his company is considering being listed on the Shanghai Stock Exchange as early as 2013. China Metal Recycling is one of the one of the largest scrap-metal recyclers in China.
While considering going public, Chun notes that the company only recently established its mainland China headquarters, which is a move that was in line with its long-term mainland initial public offering plans.
Last July the company raised HK$1.55 billion (US$192 million) in an initial public offering (IPO) on the Hong Kong Stock Exchange.
Last year, the company, with recycling and processing facilities in Guangdong Province, Jiangsu Province and Hong Kong, announced plans to invest HK$134 million in 2009 to build new recycling plants. The spending was expected to boost the company's annual output to 3.6 million tons.
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