Shandong Xiwang Special Steel commenced the bookbuilding process of its USD 200 million Hong Kong initial public offering and plans to debut on February 23rd 2012.

According to the report, the company plans to fix the issuance price on February 17th 2012. JP Morgan Chase will underwrite the steekmaker's initial public offering.

Xiwang Steel mainly makes steel materials used in construction and infrastructure. It also produces special steel used in the production of seamless pipes and bearings.

(Sourced from www.capitalvue.com)