China Rongsheng seeks $2.27 billion from HK IPO

The recent IPO frenzy and good secondary market performance for new share issues has prompted some issuers to revive earlier listing plans. China Rongsheng Heavy Industries, one of the largest shipbuilders in China, kicked off the bookbuilding yesterday for an initial public offering of between HK$12.77 billion and HK$17.67 billion ($1.65 billion to $2.27 billion) in Hong Kong.