Xiamen-based marble producer Artgo Mining Holdings plans to issue 333 million new shares at HK$2.43 to HK$3.03 apiece to raise up to HK$1.01 billion ($130 million) through an IPO on the Hong Kong Stock Exchange, according to a company prospectus.
The IPO is planned to price on December 19.
As a cornerstone investor, VMS Investment Group will purchase US$20 million of shares in Artgo Mining.
Carlyle Asia and Carlyle Asia Growth Partners IV (CAGP) invested US$40 million in Artgo Mining through the purchase of exchangeable notes in 2012. Carlyle’s 28% stake will be diluted to about 21% after the IPO.
Artgo Mining generated RMB92.05 million in revenues and RMB9.32 million in net profits in the first nine months of 2013.