Stocks News
- Dongyue plans Hong Kong IPO
Date: 20-Nov-2007 Sources: (Shenzhen Daily)
REFRIGERATOR maker Dongyue Group Ltd. plans to raise up to US$175 million in a Hong Kong initial public offering (IPO), a source familiar with the deal said yesterday.
The Shandong-based company, which kicks off a marketing roadshow for its IPO yesterday, is offering 520 million shares, or 25 percent of its enlarged share capital, at a price range of HK$2.05 (US$1.26) to HK$2.63 each, the source said.
The firm plans to use he proceeds to expand and upgrade capacity of existing products, to build new silicon capacity. Citigroup is sponsoring the deal.
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