China Forestry Holdings has priced its initial public offering close to the top of the range, allowing it to raise HK$1.55 billion $200 million ahead of its Hong Kong listing on December 3.
The privately held forest owner and operator, which counts Carlyle as one of its pre-IPO investors, attracted quite a bit of interest both by institutional and retail investors who viewed it as a way to get exposure to China's construction boom through a different means than the real estate sector. With its plantations located in Sichuan and Yunnan, China Forestry is particularly well placed to benefit from the reconstruction of the areas affected by last year's earthquake in Sichuan.
According to...
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