Chinese polysilicon manufacturer Xinte Energy belatedly began pre-marketing an initial public offering in Hong Kong on Monday, which could raise the company as much as $185 million based on an initial fair-value estimate.
Bankers familiar with the situation told FinanceAsia that the deal will comprise primary shares, or about 15% of the company’s enlarged share capital, and has a target listing date of December 29.
Xinte Energy is currently 86.93%-owned by Shanghai-listed electrical equipment maker Tebian Electric Apparatus and is based in Xinjiang, China's northwestern-most province.
Judging by the lengthy gap between the company’s filing to the Hong Kong stock...
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