UPDATE 1-China's Tianhe Chemicals seeks up to $818 mln in Hong Kong IPO- terms
* JPMorgan previously withdrew from deal amid China hiring probe
* BofA, Goldman Sachs, Morgan Stanley, UBS named global coordinators
* Company scrapped London listing plan in favour of Hong Kong (Adds banks working on the deal; background of JPMorgan withdrawal)
HONG KONG, June 3 (Reuters) - China's Tianhe Chemicals Group Ltd is seeking to raise between $636 million and $818 million in an Hong Kong initial public offering, according to a term sheet of the deal seen by Reuters on Tuesday.
The listing drew attention in January this year when JPMorgan stepped aside from the deal, amid an investigation by U.S. authorities into its hiring practices in China.
JPMorgan's exit was driven by concerns raised about the bank's employment of Joyce Wei, the daughter of Tianhe Chemicals Chairman Qi Wei, IFR reported at the time, citing sources.
Hong Kong securities licence filings show that a Jiao Wei worked at JPMorgan from January 2012 to August 2013, and is now on the staff at UBS, joining the Swiss bank in October. Jiao is Joyce Wei's Chinese name, sources familiar with the matter previously told Reuters.
JPMorgan and UBS declined to comment on the reports at the time.
UBS is one of four joint global coordinators on the Tianhe Chemicals IPO, the term sheet showed, along with Bank of America Merrill Lynch, Morgan Stanley, and Goldman Sachs.
Tianhe Chemicals is offering shares between HK$1.75 and HK$2.25 each, with 72.5 percent of the offer consisting of new shares and the rest being sold by existing shareholders.
The company, which makes lubricating oil additives and special fluorides, had planned to list in London in 2011 but eventually decided that Hong Kong has a bigger pool of investors for Chinese companies, according to IFR, a Thomson Reuters publication.
The deal size could increase up to $940 million if the so-called greenshoe option is exercised to meet additional demand for the stock, the term sheet showed. (Reporting by Denny Thomas and Lawrence White; Editing by Edwina Gibbs and Stephen Coates)