Winsway Hires Banks for $800 Million HK IPO

HONG KONG (Reuters) – Chinese coking coal logistics company Winsway, partly owned by Hopu Investments, has appointed two banks for its up to $800 million initial public share offering in Hong Kong, sources close to the deal said on Tuesday.

Winsway had hired Goldman Sachs (GS.N) and Deutsche Bank (DBKGn.DE) to finalise plans for its IPO in the fourth quarter, the sources said.

Hopu, an influential China fund founded by dealmaker Fang Fenglei, who helped Goldman set up its China investment banking joint venture, had bought a $110 million slice of Winsway, sources told Reuters in April.

The banks, Hopu and Winsway all declined to comment. (US$1=HK$7.75)