China Knowledge reported that Xinren Aluminum Holdings plans to raise up to USD 157 million through an initial public offering on the Singapore Stock Exchange.

The Chinese company plans to issue 263 million shares or 24% of its enlarged share capital in the IPO at an indicative price range of between USD 0.54 and USD 0.78. DBS Group and the Royal Bank of Scotland Group PLC are the lead underwriters for the deal.

Xinren Aluminum mainly smelts primary aluminium in the form of ingots and plates, fabricates it into value added products such as aluminium sheet, coil and foil and trades alumina and primary aluminium products sourced from third parties.

(Sourced from China Knowledge)