Sateri Holdings, a cellulose producer with operations in Brazil and China, made a US$402 million initial public offering and listing on the Hong Kong Stock Exchange in December. The offer price was HK$6.60 (US$0.85) per share.
Sateri, which is incorporated in Bermuda, will use the proceeds from the IPO to further expand its operations in both Brazil and China.
Sateri sources raw materials from Brazil, where it operates its own plantations of eucalyptus trees, the main raw material the company uses to produce dissolving wood pulp in its mill located in that country. In China it has a mill producing viscose staple fibres.