chinese-firms-seek-a-combined-757-million

Chinese firms seek a combined $757 million

Shandong Chenming Paper and Chongqing Machinery both kicked off their institutional roadshows yesterday with the aim of raising $538 million and $219 million, respectively.
May 26, 2008
Shandong Chenming Paper Holdings, one of ChinaÆs largest paper producers, started bookbuilding yesterday for an initial public offering of H-shares that will raise between HK$3.2 billion and HK$4.2 billion $410 million-$538 million, sources close to the deal have confirmed. The company is already listed in China's A- and B-share markets and, if the Hong Kong IPO is successful, it will be the first mainland company to have three categories of listed shares. This is of some consequence since the Chinese regulators have stipulated that the H-share price must be set in between the A- and B-share price.

The company is selling 17.25% of its total share capital and has set a price...
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