China Flooring Holdings, a leading wood flooring company on the mainland, kicked off bookbuilding for an initial public offering in Hong Kong yesterday that could allow the company to raise between HK$1.1 billion and HK$1.56 billion $142 million and $202 million.
The offering comes at a time when Shanghai Pharma, one of China’s leading drug distributors, and MGM China, a Macau-based casino, are in the market looking to raise $2.2 billion and $1.5 billion, respectively, through new share sales. That suggests the flooring maker will need to fight for investor interest with bigger issuers.
In its favour, China Flooring has a unique...
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