PRC aluminum giant in US$822 million IPO
March 31, 2011 | BY
Candice MakChina Hongqiao Group (China Hongqiao) has debuted on the Hong Kong Stock Exchange, raising HK$6.37 billion (US$822 million) from its initial public offering…
China Hongqiao Group (China Hongqiao) has debuted on the Hong Kong Stock Exchange, raising HK$6.37 billion (US$822 million) from its initial public offering (IPO) and Rule 144A/Regulation S placement to global investors.
The issuer is one of China's largest aluminum product manufacturers. The company is based in Shandong Province and produces molten aluminum alloy, aluminum ingots and aluminum busbars. Four cornerstone investors purchased a total of US$350 million of shares as part of the global offering.
The sole global coordinator and sponsor was JP Morgan Securities. The joint bookrunners and lead managers were JP Morgan Securities, Bocom International Securities, ICBC International Capital, Mizuho Securities Asia, BNP Paribas Capital and Barclays Capital Asia.
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