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Shampoo maker Bawang begins pre-marketing of US$250m IPO

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Bawang International, a mainland herbal shampoo manufacturer and retailer, plans to meet investors today for its US$250 million initial public offering slated for early next month.

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The company secured approval for its listing from Hong Kong regulators last week and will start pre-marketing today by sending out pre-deal research published by syndicated analysts.

A roadshow to market the company to investors will get under way on June 15 and end on June 25, according to a pre-marketing sales memo obtained by fund managers.

Pricing is expected to be set on June 26 and trading starts on July 3.

Morgan Stanley and HSBC are the joint bookrunners of the offering.

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Bawang will sell 700 million new shares, or 25 per cent of its enlarged share capital.

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