The new price range of HK$2.30 to HK$2.75 is 5.7% higher than the previous range at the top end and will value the company at between 11.1 and 13.3 times its projected 2006 earnings, according to sources familiar with the offering. This compares with the initial range of HK$2.00 to HK$2.60, which translated into a 2006 PE price to earnings ratio of 9.7 to 12.6 times,
Taipei-listed Taiwan Cement, whose China operations are similar in...
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