China Resources to expand after HK$4b offering

China Resources to expand after HK$4b offering
Published: 03 September 2009

China Resources Cement Holdings, a spin-off from China Resources Holdings, aims to boost annual capacity 1.7 times by the end of next year, fuelled by a proposed Hong Kong initial public offering early next month, a research report said.

The firm plans to sell 1.6bn new shares, or 25.5 per cent of its outstanding share capital, to raise up to HK$4bn from the long-awaited offering.