Chinese chemicals company files for $100 mln IPO

NEW YORK May 27 (Reuters) - Chinese chemicals company Chemspec International Ltd plans on raising up to $100 million in an initial public offering, according to a filing with the U.S. Securities and Exchange Commission.

Shanghai-based Chemspec said in the filing Tuesday it is the largest manufacturer of fluorinated specialty chemicals in China with a market share there of approximately 25 percent in 2008, with global sales of $138.3 million in 2008.

Chemspec's filing did not specify a price estimate range, number of American depositary shares it plans on selling or a timeline for the IPO.

The most recent IPO on a U.S. exchange by a Chinese company was that of online video game maker Changyou.com Ltd (CYOU.O), which raised $120 million in April after pricing at the top of its estimate range on healthy demand.

The planned IPO would be led by underwriters Credit Suisse and Citi. (Reporting by Phil Wahba; Editing by Christian Wiessner)