Shipbuilder China Rongsheng Heavy Industries is planning a public offering in Hong Kong this month that could raise as much as $2.6bn, a move that underscores the strength of Hong Kong’s IPO market.
“China’s ship industry began to recover in 2009, making it a good time for Rongsheng to list,” said Xu Minle, shipbuilding analyst at BOC International.
Rongsheng, one of China’s largest shipbuilders, plans to issue 1.75bn shares with a price range of HK$7.3 to HK$10.1.
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