West China Cement Limited plans to raise up to $179 million in a Hong Kong initial public offering, a term sheet obtained by Reuters showed on Monday.
West China, which is the second-largest cement producer in terms of production capacity in 2009 in Shaanxi province, is selling 823.1 million shares, or 20 percent of its enlarged share capital, at HK$1.21 to HK$1.69 each, the term sheet said.
Deutsche Bank (DBKGn.DE) and ICBC International are handling the IPO.
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