China Resources Cement to sell 1.64bn shares

China Resources Cement to sell 1.64bn shares
Published: 01 September 2009

China Resources Cement Holdings Ltd. plans to sell 1.64 billion shares in an initial public offering next month ahead of a Hong Kong listing slated for Oct. 3, according to a term sheet seen by Dow Jones Newswires on Monday.

The cement producer, a unit of state-owned conglomerate China Resources (Holdings) Co., has an option to sell an additional 245.7 million shares depending on demand, the term sheet said.

It didn’t say how much the company aims to raise.

The company plans to open the offering to institutional investors September 15.