China's Henan Golden Dragon Precise Copper Tube plans to raise CNY 3.5 billion in an IPO.

Golden Dragon will list on the Shanghai exchange. It had previously planned listings in New York and Hong Kong but scrapped the plans citing adverse market conditions.

The company is partly owned by Lehman Brothers, Goldman Sachs and the private equity unit of Standard Chartered. It intends to use the IPO proceeds to expand production.

(Sourced from www.chinaeconomicreview.com)