Kingboard Holdings launches $350 mln Kingboard Laminates block trade, term sheet shows

Reuters03-17 19:58
Kingboard Holdings launches $350 mln <a href="https://laohu8.com/S/KGBLF">Kingboard Laminates</a> block trade, term sheet shows

SINGAPORE, March 17 (Reuters) - Kingboard Holdings Ltd 0148.HK is selling about $350 million of shares in Hong Kong-listed Kingboard Laminates Holdings Ltd 1888.HK in an accelerated bookbuild block trade, according to a term sheet seen by Reuters.

  • The seller is offering 130 million existing shares at HK$20.95 to HK$21.51 each, the term sheet showed. That represents a 6.5% to 8.9% discount to Kingboard Laminates' HK$23 closing price on Tuesday.

  • Kingboard Laminates is a vertically integrated electronics materials maker, according to its website.

  • Citi is the sole bookrunner on the sale.

  • Books are open, settlement is due on Friday, and the vendor and its affiliates are subject to a 90-day lock-up, the term sheet showed.

(Reporting by Yantoultra Ngui; Editing by Mrigank Dhaniwala)

((Yantoultra.Ngui@thomsonreuters.com;))

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