Yuanda China Holdings is seeking to raise $290 million after relaunching its initial public offering (IPO), NASDAQ reports. The company, which was initially planning to raise $536 million, reduced the size for an undisclosed reason.
The company, which will list on the Hong Kong stock exchange,plans to sell 1.5 billion shares. JP Morgan Chase, Deutsche Bank, BOC International Holdings and Standard Chartered Securities have been named as joint bookrunners for the IPO.
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