Nov. 30, 2012 (China Knowledge) - Zhengzhou Coal Mining Machinery Group Co<601717>, has raised US$296 million in its initial public offering on the Hong Kong Stock Exchange, sources reported.
In the IPO, the company sold 221 million shares at HK$10.38 a piece, the low end of an indicative price range of up to HK$12.28.
Four cornerstone investors including Mongolia Yitai Group Co and China Huadian Corp subscribed US$120 million worth of shares in the IPO.
UBS AG, JPMorgan Chase & Co, CITIC Securities Corporate Finance (HK) Ltd and Deutsche Bank AG were the book runners of the IPO.
Zhengzhou Coal Mining Machinery said that its shares will be listed on the Hong Kong bourse on Dec 5.