Chu Kong Petroleum Raises US$173 Mln In Hong Kong IPO -Source

http://www.fxfxfx.com 2010-02-04 08:13:14

Chinese manufacturer Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd. (1938.HK) has raised US$173 million from its Hong Kong initial public offering by pricing at the bottom of its indicative price range, a person familiar to the situation said Wednesday.

The company in Guangdong province sold 300 million shares at HK$4.50 each, the person said. It earlier set an indicative price range of HK$4.50 to HK$6.15.

Chu Kong Petroleum will list on the Hong Kong Stock Exchange on Feb. 10.

J.P. Morgan Chase & Co. (JPM) and Industrial & Commercial Bank of China Ltd. (IDCBY, 601398.SH, 1398.HK) are the bookrunners of the deal.