shanshui-cement-prices-above-low-end

Shanshui Cement prices above low end

At HK$2.80 a share, ChinaÆs second largest cement producer brings in $234 million from its IPO.
China Shanshui Cement Group has priced its Hong Kong initial public offering at HK$2.80, towards the low end of the indicated price range of HK$2.70 to HK$3.65. This means that the total capital raised is HK$1.82 billion $234 million.

ôDue to the quality of the book, it could have been priced anywhere in the bottom half of the range. But with an eye to the market, they wanted to give it a buffer so that it goes well when it starts trading,ö says a source close to the deal.

The institutional tranche was three times covered. Most of the demand came from Asia, with the investors described as a good...
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