CPMC Holdings yesterday started a roadshow for an IPO that could raise as much as HK$1.07 billion $139.1 million. The metal-packaging company launched the deal after two straight days of significant declines in the Hang Seng Index HSI and on the same day that Excellence Real Estate Group pulled its $1 billion IPO.
CPMC is offering 200 million new shares at a price between HK$3.85 and HK$5.39 per share. A 15% greenshoe could introduce another 30 million shares into the deal and increase the maximum possible deal size to $160 million.
The company is China's largest metal-packaging company. Its main product is beverage cans, which account for 55% of its...
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