Chinese mining firm Real Gold plans a February initial public offering to raise roughly $150 million in what would be the first sizeable Hong Kong listing of the year, according to people familiar with the situation.
The company, which is based in the Inner Mongolia region of China, has tapped Citigroup (C.N) as its sponsor and Macquarie Group (MQG.AX) as joint bookrunner on the deal.
The company is looking to raise between $130 million and as much as $200 million, depending on investor demand, the people said. They declined to be identified as they are not authorised to speak on the matter.
Citigroup and Macquarie declined to comment.
Real Gold has attracted $50 million in pre-IPO funding from investors including Credit Suisse (CSGN.VX), people familiar with the deal said.
Credit Suisse declined to comment.
The last major IPO in Hong Kong was the $435 million October listing by Chinese shopping mall developer Renhe Commercial Holdings Co Ltd (1387.HK).
On Monday, Strong Petrochemical Holdings Ltd (0852.HK) made its trading debut after raising HK$250 million ($32 million) in its IPO. Its shares were up less than 1 percent after rising as much as 6 percent.
On Tuesday, China Singyes Solar Technologies Holdings Ltd (0750.HK) is scheduled to begin trading after its IPO raised HK$63 million. (US$=HK$7.8) (Reporting by Tony Munroe, Editing by Nick Macfie)
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