HONG KONG, July 28 (Reuters) - Chinese cement producer West China Cement Ltd, plans to raise $150 million to $200 million from a Hong Kong initial public offering in August, a term sheet obtained by Reuters showed.
West China, which started IPO premarketing on Tuesday, is the second-largest cement producer in terms of production capacity in 2009 in Shaanxi province.
The company which plans to delist from AIM, aims to kick off an IPO marketing road show on Aug. 5 and to list on Aug. 19 in Hong Kong, the term sheet said.
The company plans to sell 823 million new shares, or 20 percent of its enlarged share capital, and would use 60 percent of the proceeds for capacity expansion and the reminder for repaying loans.
Deutsche Bank and ICBC International are handling the IPO.
(Reporting by Kennix Chim; Editing by Jacqueline Wong))
((kennix.chim@thomsonreuters.com; +852 2843 6313; Reuters Messaging: kennix.chim.reuters.com@reuters.net)) Keywords: WESTCHINA IPO/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
West China, which started IPO premarketing on Tuesday, is the second-largest cement producer in terms of production capacity in 2009 in Shaanxi province.
The company which plans to delist from AIM, aims to kick off an IPO marketing road show on Aug. 5 and to list on Aug. 19 in Hong Kong, the term sheet said.
The company plans to sell 823 million new shares, or 20 percent of its enlarged share capital, and would use 60 percent of the proceeds for capacity expansion and the reminder for repaying loans.
Deutsche Bank and ICBC International are handling the IPO.
(Reporting by Kennix Chim; Editing by Jacqueline Wong))
((kennix.chim@thomsonreuters.com; +852 2843 6313; Reuters Messaging: kennix.chim.reuters.com@reuters.net)) Keywords: WESTCHINA IPO/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.