China Everbright International opened the institutional order books on Tuesday for an initial public offering worth up to HK$3.3 billion $425 million for its biomass and hazardous waste treatment business.
Hoping to hitch a lift on the bullish share price run in Hong Kong of other environmental solution providers, the 560 million-share deal for China Everbright Greentech is being pitched at HK$5.18 to HK$5.9 per share. That equates to 28% of the company’s equity capital, rising to 30.9% on a post-shoe basis given an overallotment option of 84 million shares.
The Hong Kong-listed parent, which itself is a unit of state-owned China Everbright...
¬ Haymarket Media Limited. All rights reserved.
