China Tianrui Group Cement, a leading clinker and cement producer in the Henan and Liaoning provinces, yesterday kicked off both the institutional roadshow and the retail offering for an initial public offering of between HK$996.17 million and HK$1.45 billion $124 million to $186 million.
The company is offering 400.9 million shares at a price ranging from HK$2.41 to HK$3.61 each, according to a term sheet. The deal size could be increased to as much as $214 million if the 15% greenshoe is exercised in full. The offering accounts for 16.7% of the equity capital pre-shoe and 18.7% post-shoe. All the shares are new.
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