WASHINGTON - The Federal Reserve on Wednesday said risks to the outlook for the U.S. economy and job market had eased since last fall, but it said it would keep buying $85 billion (54.6 billion pounds) in bonds per month given the still-high level of unemployment.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
China's Hongqiao launches roadshow for $2.2 billion IPO
HONG KONG |
HONG KONG (Reuters) - China Hongqiao Group, the largest privately owned aluminum hydroxide producer in China, has launched the roadshow for its Hong Kong IPO, hoping to raise up to $2.2 billion (HK$17.23 billion).
The deal involves 1.74 billion primary shares with a guidance price range set at HK$7.10-$9.90, representing a 2011 price to earnings ratio of 7.23-10.08 times, according to a term sheet. Pricing is slated for January 31.
JPMorgan Chase (JPM.N) is the sole global coordinator, while Barclays Group (BARC.L), BNP Paribas (BNPP.PA), Bocom and ICBCI are joint bookrunners.
The listing is expected on February 11, the term sheet said.
(Reporting by Jing Song and Michael Flaherty; Editing by Jacqueline Wong)
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