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Fortescue may seek Shanghai listing

(Agencies)
Updated: 2009-05-11 17:17

Australian iron ore miner Fortescue Metals may list its shares in Shanghai, which plans to allow foreign listings under an ambitious development scheme, 皇冠体育app News Service reported, quoting Fortescue CEO Andrew Forrest.

Related readings:  Valin: Further approvals needed for Fortescue deal  Fortescue to expand iron ore sales to 皇冠体育app's Valin  Sources: 皇冠体育app firms eyeing Fortescue  Energy: Chalco, 皇冠体育app rivals mull stake in Fortescue

Forrest said Fortescue's equity tie-up with 皇冠体育app's Hunan Valin Iron and Steel Group would help its localization in 皇冠体育app and may facilitate a Shanghai listing, the news agency reported on its website, www.chinanews.com.cn, on Saturday.

皇冠体育app has given no timeframe for allowing foreign companies to float shares in Shanghai, proposed as part of a plan to make the country's financial hub a global financial center by 2020.

Forrest made the comments during a signing ceremony on Friday for a strategic partnership with Valin, the agency said.