USEUROPEAFRICAASIA 中文双语Français
Home / Business

Tianhe tests investor reaction in HK

By Emma Dai in Hong Kong | China Daily | Updated: 2014-06-10 07:26

Tianhe Chemicals Group Ltd, the largest lubricant additives producer in China, began its initial public offering on Monday in Hong Kong, where it aims to raise as much as HK$6.34 billion ($818 million).

The Liaoning-based company will offer 2.8 billion shares at HK$1.75 to HK$2.25 each, its IPO document shows. About 27.48 percent of the shares are existing shares held by management, documents from the stock exchange of Hong Kong show.

About HK$1.54 billion, or 39.4 percent of the net proceeds assuming an offer price of HK$2 per share, will be used to repay a loan backed by Driven Global, a unit controlled by the Wei family, the founder and operator of Tianhe Chemicals.

Tianhe tests investor reaction in HK

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US