SHANGHAI :
Hebei Construction Group Plans to Raise USD350 Million in Hong Kong IPO Next Week
Dou Shicong
DATE:  Dec 05 2017
/ SOURCE:  Yicai
Hebei Construction Group Plans to Raise USD350 Million in Hong Kong IPO Next Week Hebei Construction Group Plans to Raise USD350 Million in Hong Kong IPO Next Week

(Yicai Global) Dec. 5 -- China's second-largest private construction contractor Hebei Construction Group Co. will list on the Hong Kong stock market on Dec. 15, raising up to HKD2.32 billion (USD350.6 million).

The firm will issue 433 million shares at a price between HKD4.46 and HKD5.36, with 10 percent of shares offered publicly, financial news outlet Caixin reported.

Hebei Construction Group was the country's second-biggest non-state-owned construction firm last year in terms of revenues, and the biggest in the Beijing-Tianjin-Hebei region, where the group receives 60 percent of its contracts. The company also operates in Angola, Laos, Fiji and Venezuela.

The group, previously affiliated to China's Ministry of Industry, has undergone several rounds of capital increases and share transfers. Chair Li Baoyuan and his brother Li Baozhong hold a 50 percent share in the company.

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Keywords:   Hebei Construction Group,IPO,Hong Kong,Beijing-Tianjin-Hebei Region