Zhong Da Mining pitches $300m IPO

25 Oct 2011

Chinese iron ore miner Zhong Da Mining has started meeting investors for a $300m Hong Kong IPO. The company started pre-marketing on Monday, testing demand for what could be the first Hong Kong listing in a month.

The bookrunners estimate the value of the company after the listing at between $1.3bn and $1.7bn. Zhong Da is likely to offer around 25% of its share capital in all primary share offer, said a banker close to the deal. There is no concrete timetable for the listing, giving bankers ...

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