Carpenter Tan plans HK public float

Chinese comb maker Carpenter Tan is planning an initial public offering of its shares on the Hong Kong bourse, said a senior company official.

"Carpenter Tan has got approval to offer shares on the Growth Enterprise Market of the Hong Kong Stock Exchange," Zhou Pei, spokesperson of Carpenter Tan Holdings Ltd, told China Daily yesterday.

According to Chinese media reports, the company plans to raise HK$100 million from its IPO by the end of this month. The reports also said Hong Kong-based First Shanghai Securities might underwrite the offering. Zhou, however, refused to divulge any details, citing corporate policy.