China Ting launches IPO

OEM silk manufacturer sets out to raise at least $115 million.

Capping a busy month for lead manager BNP Peregrine Paribas, the bank has launched a $115 million to $140 million IPO for OEM silk manufacturer China Ting. Pre-shoe the company will have a free-float of 25.13% based on an offer size of 500 million shares.

The indicative price range has been set at HK$1.80-2.20, equating to a 2005 priceearnings ratio of 9.7-11.8 times. By comparision, OEM textile manufacturers Texwinca and Fountainset trade at 13.9...

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