Manganese Producer To Raise HK$2.1B From IPO

November 8 -- CITIC Dameng, a major producer of manganese in China,
intends to issue 750 million shares in its initial public offering
(IPO) in Hong Kong in order to raise between HK$1.575 billion and
HK$2.0625 billion, reports Caing.com.

The indicative price range of the IPO is set at between HK$2.1 and
HK$2.75 per share.

CITIC Dameng is spun off from CITIC Resources Holdings (1205.HK).

Funds raised from its IPO will be invested in several projects in
China and Gabon such as the purchase of mines, the repayment of bank
loans and to supplement working capital.