A mainland-based cement maker linked to one of Taiwan's most powerful families plans to raise as much as RMB 451 million by listing in Hong Kong.
Chia Hsin Cement Greater China Holding is based in Jiangsu province and a spin-off of Taipei-listed Chia Hsin Cement.
Chia Hsin is linked to the Koo family of Taiwan. The family's patriarch, Koo Chen-fu, is the chairman of Taiwan's Strait Exchange Foundation and leads negotiations with the mainland on behalf of the Taiwan government.
Chia Hsin is betting on soaring demand for cement in China and has earmarked US$98 million to expand production facilities.