China Tianrui Group Cement Co, in which US private equity firm Kohlberg Kravis Roberts & Co has a minority stake, has started gauging investor interest by premarketing a Hong Kong IPO that could raise US$300m-US$500m, according to a term sheet. KKR invested US$115m in Tianrui Group in 2007 before the financial crisis.
The Henan-based cement producer plans to begin taking orders from investors in a roadshow starting 13 December and is scheduled to list shares in Hong Kong 23 December.
