qunxing-shows-chinese-paper-makers-remain-attractive

Qunxing shows Chinese paper makers remain attractive

The decorative paper maker prices its Hong Kong IPO at the top of the range to raise $206 million.

September 23, 2007

Qunxing Paper Holdings has brought more proof that investors continue to view Chinese paper manufacturers as lucrative investments, with its Hong Kong initial public offering being significantly oversubscribed. As a result, the specialty paper manufacturer had no difficulty pricing the IPO at the top of the range for a total deal size of HK$1.6 billion $206 million.

With its main product being decorative base paper, Qunxing stands out versus the other two Hong Kong-listed paper manufacturers which focus on more upstream production of containerboard and packaging boxes. However, Qunxing was clearly riding on the back of the success of the other two, which have seen their share prices multiply since their respective listings....

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