Shandong Chenming completes third largest HK IPO this year

ChinaÆs largest paper company prices at the bottom, but still raises $410 million to expand its pulping facilities.

Shandong Chenming Paper, ChinaÆs largest paper producer in terms of revenue, has raised HK$3.2 billion $410 million ahead of its Hong Kong listing on June 18, after fixing the price at the bottom of the indicated range of HK$9 to HK$11.80.

Coming a day after Chongqing Machinery priced its initial share offering at the bottom, ShandongÆs decision to accept the minimum price perpetuates the recent trend of Hong Kong IPOs pricing at or near the low...

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