Asia Cement (China) Holdings has raised US$238 million in a Hong Kong initial public offering by pricing its shares towards the low end of the range.
The company, a spinoff from Taiwan’s Asia Cement Corp, sold 375 million new shares, or 25% of its enlarged share capital, at HK$4.95, the person said. It earlier set an indicative price range of HK$4.85-HK$6.45 for the share sale.
