lumena-seeks-at-least-128-million-from-ipo

Lumena seeks at least $128 million from IPO

The thenardite producer could become the fourth company of size to list in Hong Kong this year and, if successful, may open the door for other listing candidates.

After two weeks of investor education, Chinese chemicals company Lumena Resources will kick-off the formal roadshow for its initial public offering today, aiming to become only the fourth company of size to list in Hong Kong this year.

The Sichuan-based company is the world's second largest producer of thenardite, which is a solid form of sodium sulphate and an important raw material for the production of powder detergents, dyes, textiles, glass, kraft pulp and pharmaceutical products. It is seeking to raise between HK$992.8 million and HK$1.48 billion $128 million to $191 million, according to sources.

The company and its founder are offering a combined 577.2 million shares, which will correspond to about...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222