CORRECTED-Asia Cement and Artini plan HK IPOs -sources

(Corrects size in first paragraph to $433 million from $408 million and number of shares in 2nd paragraph to 375 million from 345 million)

HONG KONG, April 27 (Reuters) - Asia Cement (China) Holdings and fashion accessories company Artini International Group plan to raise a combined maximum of $433 million in Hong Kong initial public offerings, sources close to the deals said on Sunday.

Asia Cement, an arm of Taiwanese firm Asia Cement Corp (1102.TW: Quote, Profile, Research, Stock Buzz), plans to raise as much as $310 million by selling 375 million shares, or 25 percent of its enlarged share capital, at HK$4.85 to HK$6.45 apiece, one of the sources said on Sunday.

The company plans to use the proceeds for plant expansion, loan repayment and strategic investment.

China-focused Artini plans to raise up to $123 million by offering 280 million shares, or 28 percent of its enlarged share capital, at a price of HK$2.22 to HK$3.43 each, another source close to the deal said.

Artini's price range represents a prospective price earnings multiple of 12 to 18.5 times its forecast earnings in the year to March 2009. The company plans to start its Hong Kong public offering on May 2, with trading in its stock to start on May 16.

ABN AMRO and BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz) are the sponsors of Asia Cement's deal while Cazenove is the sponsor of Artini's issue.

Both companies will kick off their marketing roadshow on Monday. (US$1=HK$7.8) (Reporting by Kennix Chim; Editing by David Holmes)