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Lumena set to raise $148 mln in HK IPO -sources

Wed Jun 10, 2009 4:41am EDT

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HONG KONG, June 10 (Reuters) - Chinese chemicals maker Lumena Resources Corp (0067.HK) has set its Hong Kong IPO price at the mid-range at HK$2 per share to raise HK$1.15 billion (US$148 million), two sources with direct knowledge of the deal said on Wednesday.

Sichuan-based Lumena and its owners are selling 577.2 million shares, or 30 percent of the firm's enlarged share capital, at HK$1.72-HK$2.56 each in a deal that values the company at 5.3-7.8 times forecast 2009 earnings, market sources had said earlier this month.

Credit Suisse (CSGN.VX), Macquarie (MQG.AX) and BOCI are handling the deal.

(US$1=HK$7.8) (Reporting by Donny Kwok; editing by Jonathan Hopfner)



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