Singapore-listed Midas aims to raise $174 million in Hong Kong

The company will use the proceeds from the share sale to expand production capacity and for potential acquisitions.

Lillian Liu

September 22, 2010

Midas Holdings, a Chinese manufacturer of aluminium alloy, started bookbuilding yesterday for an up to HK$1.34 billion ($174 million) share sale and secondary listing in Hong Kong. The company plans to use the proceeds to expand production capacity and for potential acquisitions.

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