chinese-aluminium-foil-leader-markets-ipo

Chinese aluminium foil leader markets IPO

The roadshow for Xiashun's $300 million Hong Kong IPO is set for the end of the month.

November 15, 2007

China-based light-gauge aluminium foil producer Xiashun Holdings has started pre-marketing of its Hong Kong initial public offering to investors. The company plans to raise up to $300 million and has scheduled its roadshow for November 27.

Xiashun is the largest light-gauge aluminium foil manufacturer in China controlling about 40% of the market by volume. Light-gauge aluminium foil is mainly used in sterile packaging, tobacco and other flexible packaging, to preserve the taste and aroma of products and provide a longer shelf life.

Xiashun is planning to offer 500 million new shares, or approximately 25% of the company, with 90% earmarked for institutions and the rest for retail investors. The deal carries the normal Hong Kong...

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