May 28, 2008. /Lesprom.com/. Chenming Paper Holdings Limited, the mainland's largest paper manufacturer by revenue, launches an IPO of HK$4.2 billion ($538 million) in Hong Kong which will be the first to list in three stock markets of Shanghai, Shenzhen and Hong Kong, IBTimes Hong Kong reported. Chenming plans to raise as much as HK$4.197 billion (approx. $538 million) by selling 355.7 million shares or 17.25% of its enlarged share capital, at a price range from HK$9 ($1.15) to HK$11.80 ($1.5) each. The proceeds is used to build the mainland's biggest integrated wood pulp factory, with annual production capacity of 700 thousand tons and an associated forestry program, the company said in one statement. The Shandong based company will open its retail offer on June 4 and expected to begin trading on June 18. Chenming Paper Holdings Limited produces paperboard, paper making raw materials and paper making machinery.