Waste paper recyler in $184 mln HK IPO -term sheet

HONG KONG, March 15 (Reuters) - Waste paper collector and recycled tissue paper maker Fook Woo Group Holdings plans to raise up to HK$1.43 billion ($183.8 million) in an initial public offering of shares in Hong Kong, according to a term sheet obtained on Monday.

Fook Woo plans to sell 620 million shares, including 500 million primary shares and 120 million secondary shares, at an indicative price range of HK$1.68 to HK$2.30 apiece. The shares will be priced on March 24 and dealing in the shares is expected to begin on March 31, the term sheet showed.

UBS and RBS are joint lead managers of the deal.

Also joining the IPO race, buildings curtain wall producer and installer Far East Global Group Ltd aims to raise up to HK$611.6 million ($78.9 million) by selling 361.89 million shares, including 75.1 percent of new shares in an IPO, according to a term sheet.

The shares are to be sold at an indicated price range of HK$1.18 to HK$1.69 apiece and will be priced on March 24, with trade expected to begin on March 30. Proceeds will be used to fund projects, to build new production facilities and to help it expand into new building markets.

China Overseas Insurance Ltd, a unit of Chinese building construction group China State Construction International Holdings, is a cornerstone investor, the term sheet said. Bank of China International is the sole lead manager of the deal.

(US$1=HK$7.76)

(Reporting by Kennix Chim; Writing by Donny Kwok; Editing by Ken Wills)

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