Petro-king eyes Hong Kong IPO of about $100 million

With the Lunar New Year holidays out of the way, China’s Petro-king joins Xinchen China Power in starting to gauge the investor appetite for Hong Kong listings.
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A Petro-king fracking truck
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<div style="text-align: left;"> A Petro-king fracking truck </div>

Bankers started pre-marketing yesterday for an initial public offering of Termbray Petro-king Oilfield Services, which is aiming to raise about $100 million, sources said.

The oil and gas technology services company is expected to kick off the roadshow on Friday February 22 and the final price should be set on February 27. The listing on the Hong Kong main board is scheduled for early March. CCB International, China Galaxy and CIMB are joint bookrunners for the deal.

The deal is another sign that IPO activity is returning to the market after the Lunar New Year holidays last week, which kept the Hong Kong stock market closed...

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