June 3, 2014 / 1:25 AM / 4 years ago

China's Tianhe Chemicals seeks up to $818 mln in Hong Kong IPO- terms

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.

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 changed its plans as it believes Hong Kong has a bigger pool of investors for Chinese companies, according to IFR, a Thomson Reuters publication. (Reporting by Denny Thomas; Editing by Edwina Gibbs)

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