XIAMEN FIT IMPORT & EXPORT CO., LTD.
Malaysian timber firm launches HK IPO
click rate:2685 issue time:2007-03-10 08:12
Feb. 12, 2007 (China Knowledge) – Samling Global is targeting to raise US$250 million from its IPO on the Hong Kong Stock Exchange, market sources told the South China Morning Post.


The Malaysian timber company has started to offer 1.05 billion new shares, or 25.3% of its issued share capital, to institutional investors on Monday.


Retail subscriptions will begin after the Lunar New Year holidays and trading will commence on Mar. 8, 2007. HSBC, Macquarie Securities and Credit Suisse are the arrangers of the deal.


Samling expects wood prices to gradually catch up with the sharp increases in other commodities, thanks to strong demand from fast-growing markets such as the Mainland and limited supply.