PanAsialum kicks off IPO of up to $174 million

The supplier of iPad casings is expected to grow strongly in the next few years on the back of continuing demand for tablets.

PanAsialum Holdings, a Chinese manufacturer of aluminium products, yesterday kicked off the institutional roadshow for a Hong Kong initial public offering of between HK$1.04 billion and HK$1.35 billion $134 million to $174 million.

The company, which has previously been referred to as PanAsia, has three business lines but in the past two years it has been putting increasing focus on the production of aluminium casings for Apple’s iPads. In 2012 this fast-growing business electronic parts made up 46.9% of its revenues, compared to just 8.8% in 2010. And analysts believe it will continue to grow strongly in the next couple of years with one syndicate...

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