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  1. Warburg Pincus-backed Red Star launches up to $930 mn Hong Kong IPO

Warburg Pincus-backed Red Star launches up to $930 mn Hong Kong IPO

Red star, backed by private equity firm Warburg Pincus, is offering 543.59 million shares in a range of HK$11.18 to HK$13.28 per share, the terms showed.

By: | Hong Kong | Published: June 12, 2015 9:40 AM

Chinese furniture and building material retailer, Red Star Macalline Group Corp Ltd, has launched its Hong Kong initial public offering, seeking to raise between $785 million and $930 million, according to a term sheet of the deal seen by IFR.

Red star, backed by private equity firm Warburg Pincus, is offering 543.59 million shares in a range of HK$11.18 to HK$13.28 per share, the terms showed.

The company has secured $330 million worth of commitments from five cornerstone investors, including Falcon Edge, Hong Kong Gree Electric Appliances Sales Ltd and China National Building Material Company Ltd.

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