China’s second-largest clinker and cement producer, China Shanshui Cement Group Ltd, aims to raise up to US$305m from a Hong Kong IPO, sources close to the deal said on Monday, shrugging off the recent stock market plunge and poor performance of recent listings.
Hong Kong’s Hang Seng Index .HSI has lost around 8 percent since the start of June in volatile trade as investors fret over rising inflation. Cement stocks had further to fall after jumping on expectations for strong demand as Sichuan province rebuilds from a recent earthquake.
