strong-book-gives-sinoma-confidence-to-price-high

Strong book gives Sinoma confidence to price high

The cement equipment company records oversubscription numbers in the 100s and is the first listing candidate since China Railway to carry out a full clawback.
December 12, 2007
China National Materials Company, the worldÆs largest cement equipment and engineering services firm, has provided further proof that investors are still willing to invest in what they perceive to be good quality companies in high-growth sectors. Contrary to the muted response received by seven of the other eight companies that have attempted a Hong Kong listing so far this month, the producer of non-metal building materials was in strong demand by both institutional and retail investors.

According to a source, this gave China National Materials, which is known as Sinoma, the confidence to fix its IPO price at the top of the range, becoming the first Hong Kong listing candidate to do so since China...
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