Hongqiao tests market with accelerated IPO

The Chinese aluminium producer hopes to raise up to $2.2 billion from a Hong Kong IPO that is set to close before the Chinese New Year holiday.

With little more than a week to go before Chinese New Year, the Middle Kingdom’s most celebrated holiday, Chinese aluminium producer China Hongqiao Group is seeking investor attention to raise between HK$12.3 billion and HK$17.2 billion $1.5 billion to $2.2 billion from a Hong Kong initial public offering.

The launch of the deal so close to a major holiday took the market a bit by surprise as other issuers have chosen to hold off on their IP...

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