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.
 
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