Hong Kong IPO market gets some fertiliser

CNOOC unit China Blue Chemical starts pre-marketing of an up to $400 million IPO with strong backing from strategic and corporate investors.

China Blue Chemical, which starts pre-marketing today August 28 of its Hong Kong initial public offering, is banking on its modern production facilities and growth projections above the sector average to attract investors.

Having secured a strategic investment from Norwegian fertiliser producer Yara International and with a lot of interest from Hong Kong tycoons, the company is already well on its way to raise the up to $400 million it is seeking. But according to people familiar with the offering,...

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