Sateri and ZhengTong seek to raise a combined $1.1 billion

Sateri, a maker of specialty cellulose, aims to raise $600 million, while car and spare parts dealer ZhengTong is looking to reap $554 million.

With only a month left until the year-end break, Hong Kong initial public offerings continue to flow as issuers race to make the most of the remaining days of the year.

Year-to-date IPO volumes in Hong Kong have topped $46 billion, already exceeding the full year forecast of $39 billion made by PricewaterhouseCoopers at the beginning of 2010. And equity strategists warn of potential asset bubbles fuelled by excess liquidity across the region.

Against that backdrop, two companies kicked off institutional bookbuilding yesterday with the aim of raising a combined $1.1 billion ahead of their Hong Kong listings.

Sateri

Sateri Holdings, a maker of specialty cellulose used in a wide range of products...

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