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May 12 (Reuters) - Shanghai-based construction services
provider Horizon Construction Development Ltd on
Friday filed for an IPO aiming to raise up to HK$1.75 billion
($222.96 million) in a Hong Kong listing by May 25.
The listing follows a spin-off of the company from financial
services provider Far East Horizon Ltd . Far East
Horizon will retain a 71.7% stake in Horizon Construction.
The IPO consists of a public offering in Hong Kong and an
international offering, with a total of 364.7 million shares at
a maximum offer price of HK$4.80 per share.
The market capitalisation of Horizon Construction will
likely range from HK$14.45 billion to HK$15.35 billion, Far East
Horizon said in a separate statement.
Horizon Construction has picked Huatai International,
Citigroup and DBS Group to work on its listing.
($1 = 7.8489 Hong Kong dollars)
(Reporting by Savyata Mishra in Bengaluru)
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