Rongsheng Heavy Seeks $2.3 Billion in Hong Kong IPO to Expand Shipbuilding

Source: Bloomberg - China Rongsheng Heavy Industries, China’s largest shipbuilder outside state control, is seeking $2.3 billion in what may be Hong Kong’s third-largest initial public offering this year, according to terms sent to investors.

The company plans to sell 1.75 billion shares at HK$7.30 to HK$10.10, the terms show. China National Offshore Oil Corp., China Life Insurance (Group) Co., China Southern Fund Management Co. and Atlantis Investment Management Ltd. have agreed to buy a combined $155 million of shares, according to the terms.
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