China Resources Cement raises HK$6.39bn via HK IPO

China Resources Cement Holdings Ltd(1313), the largest cement producer in South China, has raised HK$6.39 billion through an initial public offering on the Hong Kong Stock Exchange, the Wall Street Journal reported, citing one source familiar with the matter as saying. The company sold 1.64 billion shares at HK$3.90 per share, the maximum it sought, said the source, adding that trading in the shares is scheduled to start on Oct. 6. The cement producer earlier had set a price range of HK$3.20 to HK$3.90 per share. Credit Suisse and Morgan Stanley were the joint book runners of the IPO.