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.
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