China Tianrui Group Cement Raises $124M in I.P.O.

China Tianrui Group Cement, a company backed by buyout firm Kohlberg Kravis Roberts & Co., has raised $124 million in an initial public offering in Hong Kong, Reuters reported, citing IFR. The company, based in Henan province in eastern China, priced roughly 401 million new shares at HK$2.41 each, putting the deal at HK$966.17 million ($124.12 million), wrote Reuters.

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