China Flavors and Fragrances has joined a growing number of listing candidates with a plan to tap the market for between $100 million and $120 million.
Sources said the mainland producer of essence and perfume aimed to sell 100 million shares at $1 to $1.20 each - 7.1 to 8.6 times its projected earnings for this year.
The firm intends to use about $60 million of the proceeds to expand its sales and distribution network and its existing production facilities and a further $25 million for product development.
The retail offer is scheduled to open on Wednesday and close on December 5.
Sun Hung Kai International is the sponsor.
Meanwhile, Dongfeng Motor Group and Lijun Pharmaceutical have been attracting decent demand from institutional investors.
