China National Building Materials constructs IPO

Seeks to cement its position as a diversified industry leader through aggressive expansion.
The rapid growth in ChinaÆs construction sector as well as the current liquidity- and sentiment-driven appetite for Chinese paper are likely to be key themes during the road show for China National Building Material CoÆs initial public offering that was launched yesterday March 6.

The state-owned enterprise, which makes a diverse range of building materials and is one of the leading cement manufacturers in the country, is aiming to raise up to HK$1.7 billion $220 million ahead of a Hong Kong listing on March 23.

Morgan Stanley is the sole bookrunner for the offering, which comes on the heels of a heavily oversubscribed IPO from Nine Dragons Paper. The container board manufacturer raised...
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