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HONG KONG—A Chinese copper recycling firm that was

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RealDutch Member Level  Sunday, 02/23/14 07:43:32 AM
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HONG KONG—A Chinese copper recycling firm that was taken private by its owner from a New York listing 15 months ago has completed a Hong Kong initial public offering at almost ten times its delisted value.

Gushan was taken private by founder Yu Jiangqiu in October 2012 at a valuation of US$31 million. China Metal, which holds most of Gushan’s assets, priced its Hong Kong IPO at HK$1.13 per share, in the middle of its indicated HK$1.00-HK$1.20 range, and values the firm at about US$306 million, a person familiar with the matter said Monday. The company sold 618.5 million shares and is scheduled to list in Hong Kong on Feb. 21.

http://blogs.wsj.com/moneybeat/2014/02/17/hk-ipo-provides-windfall-for-us-delisted-china-metal-resources/


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