Paper and Packaging News
- Chenming Paper plans HK listing
Date: 19-Mar-2007 Sources: (Shenzhen Daily)
SHANDONG Chenming Paper Holdings, a major paper producer, said Saturday it would raise about HK$3 billion (US$385 million) in a Hong Kong listing to fund a project producing wood pulp.
The company will offer as much as 25 percent of its expanded share capital in the form of Hong Kong-listed H shares, with a greenshoe option of up to 15 percent of the offer. Shenzhen-listed Chenming said the timing of the initial public offering, which needs shareholder and regulatory approval, would depend on market conditions, but would occur within a year of shareholder approval. It scheduled a shareholder meeting for April 1.
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