Tiangong launches HK$890m share sale

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By Jonathan Breen
04 May 2021

Tiangong International, a China-based steel producer, is selling up to HK$890m in new shares through a top-up placement, according to a term sheet seen by GlobalCapital Asia.

The company is raising capital to fund the expansion of an industrial park in Thailand and to develop new precision tools.

Sole bookrunner HSBC began taking orders for the placement at around 6.30pm Tuesday in Hong Kong. It is marketing 200m shares of Tiangong at HK$4.20 to HK$4.45 ...

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