HONG KONG, Dec 5 (Reuters) - Qinhuangdao Port Co Ltd,operator of the world's largest coal port, is set to price itsHong Kong initial public offering at HK$5.25 per share, puttingit on course to raise about $562 million, a person with directknowledge of the deal told Reuters on Thursday.
Underwriters recommended pricing the shares at the bottom ofthe indicative range of HK$5.25 to HK$6.70, said the person whowas not authorized to speak publicly on the matter and sodeclined to be identified.
The offering consists of 829.85 million shares, putting thesale value at about HK$4.36 billion ($562 million).
About 91 percent of the offer will comprise newly issuedshares, whereas the remainder will be existing shares fromChina's National Social Security Fund.
Citigroup Inc, China International Capital Corp andHSBC Holdings PLC are sponsors and joint globalcoordinators. BoCom International, China Merchants Securities CoLtd, JPMorgan Chase & Co and UBS AG are also underwriters.