China Rongsheng Heavy Industries Group Holdings Ltd plans to raise as much as $1.5 billion in an initial public offering in Hong Kong, sources close to the deal said on Monday.
Rongsheng, which kicks off its IPO pre-marketing on Monday, plans to use the proceeds for its shipbuilding and offshore engineering business, the term sheet said.
Rongsheng has not decided the base offering structure yet, but it has an overallotment option, which are all secondary shares to be sold by Chairman Zhang Zhi Rong.
Deutsche Bank, Morgan Stanley, China Construction Bank International, JP Morgan and Bank of China International are the joint bookrunners of the deal.
Rongsheng, which kicks off its IPO pre-marketing on Monday, plans to use the proceeds for its shipbuilding and offshore engineering business, the term sheet said.
Rongsheng has not decided the base offering structure yet, but it has an overallotment option, which are all secondary shares to be sold by Chairman Zhang Zhi Rong.
Deutsche Bank, Morgan Stanley, China Construction Bank International, JP Morgan and Bank of China International are the joint bookrunners of the deal.