China Tianrui Cement raises $124 million from Hong Kong IPO

China Tianrui Group Cement, a leading clinker and cement producer in China’s Henan and Liaoning provinces, yesterday priced its Hong Kong initial public offering at the bottom of the range at HK$2.41 a share for a total deal size of HK$966.2 million ($124 million). If the 15% greenshoe is exercised in full, the offering could increase to as much as $143 million.