dongyue-to-raise-176-million-from-ipo

Dongyue to raise $176 million from IPO

ChinaÆs largest refrigerant and polymer producer plans to expand into the profitable silicone segment following its Hong Kong listing.
ChinaÆs leading refrigerant and polymer producer Dongyue Group kicks off the roadshow for the institutional portion of its Hong Kong initial public offering today, aiming to raise up to HK$1.37 billion $176 million.

Dongyue is the largest producer of fluoro chemicals in China, controlling 26% and 28% of the domestic market for refrigerants and fluoropolymers respectively. The companyÆs fluorochemicals business produces fluorocarbon chemicals like HFC-134, which is mainly used in automobile air conditioners, and HCFC-22, which is used in refrigerators, air conditioners and as a feedstock for fluoropolymers. Fluoropolymers products include PTFE and HFP which are widely used in the construction, electronics, automobile and aerospace industries.

The company is offering 520...
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