Nine Dragons Paper seeks IPO to fund aggressive expansion

China's largest container board manufacturer targets $400 million.
ChinaÆs largest manufacturer of containerboard, Nine Dragons Paper, starts pre-marketing today February 6 for an IPO that could raise up to $400 million at the top end of the range. At this level, it will represent the largest listing in Hong Kong since The Link Reit in late November.

Lead managers BNP Paribas Peregrine and Merrill Lynch will be hoping that the recent dearth of sizeable IPOs in Hong Kong and the strong growth prospects for the containerboard industry in China should result in a lot of interest for Dongguan-based company.

Nine Dragons will be offering up to 1 billion new shares, or 25% of the company, with an option to sell a further...
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