:Shanghai-based construction services provider Horizon Construction Development Ltd on Friday filed for an IPO aiming to raise up to HK$1.75 billion in a Hong Kong listing by May 25.
The listing follows a spin-off of the company from financial services provider Far East Horizon Ltd. Far East Horizon will retain a 71.7 per cent stake in Horizon Construction. The IPO consists of a public offering in Hong Kong and an international offering, with a total of 364.7 million shares at a maximum offer price of HK$4.80 per share.
The market capitalisation of Horizon Construction will likely range from HK$14.45 billion to HK$15.35 billion, Far East Horizon said in a separate statement. Horizon Construction has picked Huatai International, Citigroup and DBS Group to work on its listing.
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Shanghai-based Horizon Construction Development files for IPOConstruction services provider Horizon Construction Development Ltd on Friday filed for an IPO of 364.7 million shares at a maximum offer price of HK$4.80 per share.The IPO consists of a public offering in Hong Kong and an international offering of about 328.2 million shares.
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