Chinese marble miner sets price range for $250 million IPO

China Kingstone Mining, which makes marble blocks used in residential and commercial buildings, hopes to share a slice of the country’s construction boom.

China Kingstone Mining, a Sichuan-based marble mining company, is looking to raise up to HK$1.94 billion $250 million from a Hong Kong initial public offering to expand its capacity and distribution channels.

If the deal sails through, it will be the first sizable IPO in Hong Kong this year. Aluminium producer China Hongqiao Group planned to raise up to $2.2 billion from a share sale in January, but called off the deal before pricing, citing weak market conditions and falling light metal prices. Kingstone also looks set to become the first marble miner to list in Hong Kong. However, investors may compare it with other listed mining...

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