Evergreen mulls raising $140mln in HK IPO

The company joins the slew of IPOs in Hong Kong.

Evergreen International Holdings Ltd, plans to raise up to $140 million in an initial public offering in Hong Kong, according to a term sheet obtained by Reuters on Monday.

Evergreen planned to sell shares at an indicative price range of HK$3.8 to HK$4.6 per share, to raise about $115 million to $140 million, the term sheet showed.

The issue is the latest in a flurry of offerings in the city in recent months, including China's largest cardio-cerebral vascular drugmaker, Sihuan Pharmaceutical Holdings Group Ltd, which is seeking to raise up to $741 million, according to a report in Reuters. 

Piper Jaffray Asia Securities Ltd and CLSA are the joint bookrunners of the deal.