BBMG IPO attracts five cornerstone investors

The Chinese cement producer and property developer is seeking to raise up to $768 million from the IPO, which is the first in nine months where investors have been willing to agree to a lockup.

BBMG Corporation yesterday started the official marketing for its upcoming initial public offering, which is looking to raise up to HK$5.95 billion $768 million, and already it is attracting strong interest from across the investor community. The management lunch briefing in Hong Kong was packed with potential buyers and sources say the deal was covered before the day was over.

The company is the largest supplier of building materials in Beijing, Tianjin and Hebei province and it is...

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