Rongsheng ropes in Morgan
Jiangsu Rongsheng Heavy Industries Co Ltd has appointed Morgan Stanley to finalize plans for its long-awaited IPO in Hong Kong, aiming to raise up to $1.5 billion in the fourth quarter, Reuters reported on Tuesday, citing unnamed sources.
This is Rongsheng's latest bid to go public after it failed to raise more than $2 billion from a planned IPO in Hong Kong in 2008, as a result of the global financial crisis.
