Kingboard Laminates IPO to raise up to HK$5.8bn

20 November 2006 02:59  [Source: ICIS news]

SINGAPORE (ICIS news)--Kingboard Chemical Holdings will raise up to HK$5.8bn ($744.8m, €580.5m) from the spin-off of its laminates division, the Hong Kong-listed firm said on Monday.

The company has set the price of its laminates initial public offering (IPO) at HK$5.97-$7.73, it said in a statement.

The listing will raise funds for its printed circuit board (PCB) and chemicals businesses and to repay debt.

Shares will be sold from 24 to 29 November, with trading to start on the Hong Kong Stock Exchange on 7 December.

The company’s chemicals division produces formalin, epoxy resin, melamine, sodium hydrosulphite and tetrabromobisphenol-A (TBBA), which are feedstock for laminates.

By: Florence Tan
+65 6780 4359

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