HONG KONG (Reuters) - China Hongqiao Group, the largest privately owned aluminum hydroxide producer in China, has launched the roadshow for its Hong Kong IPO, hoping to raise up to $2.2 billion (HK$17.23 billion).
The deal involves 1.74 billion primary shares with a guidance price range set at HK$7.10-$9.90, representing a 2011 price to earnings ratio of 7.23-10.08 times, according to a term sheet. Pricing is slated for January 31.
The listing is expected on February 11, the term sheet said.
Reporting by Jing Song and Michael Flaherty; Editing by Jacqueline Wong