asia-cement-spinoff-prices-above-the-low-end

Asia Cement spin-off prices above the low end

The final price of HK$4.95 represents a 36% discount to the company's larger competitor Anhui Conch Cement, but some investors hold off with the aim of buying in the secondary market.
Asia Cement China Holdings has raised HK$1.86 billion $238 million ahead of its listing in Hong Kong on May 20 after fixing the price slightly above the bottom of the indicated range. If the greenshoe is also used in full, the proceeds will increase to $274 million.

Coverage ratios are still well below where they were in the second half of 2007, but the fact that there was enough response from institutional investors not only to get the deal done, but to push up the price as well, was encouraging and should help improve the confidence of other companies in the pipeline to launch their deals. Contrary to the other two Hong Kong IP...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222