The company, a subsidiary of state-controlled Chinalco, provides engineering and design services to nonferrous metals companies.

It is offering 363.16 million shares and the international tranche is partly covered. Retail investors will have to part with HK$4,777 for a single board lot of 1,000 shares.

"The listing offers us an international stage to build our reputation. We aim to secure more overseas projects," chairman Zhang Chengzhong said yesterday.

Half the net proceeds, or HK$735.3 million, will be used for new engineering and construction projects, a third of which are outside China.

Last year, revenue grew 8.6percent to 12.2 billion yuan (HK$14.8 billion). Overseas markets including Vietnam and India contributed nearly 15percent of turnover.

The company said that a third of the proceeds will be spent on new equipment as well as for research and development. It is betting on more growth opportunities in the nonferrous industry.

Zhang said opportunities will arise as the industry players shift from "eastern regions to the middle and western parts of China." As for overseas business, it will focus on emerging markets.

Dealing in its shares is set for July 6.

In other action, China Nonferrous Mining Corporation failed to attract margin orders on the second day of its HK$2.44 billion public float. Separately, Xiao Nan Guo Restaurants Holdings, which opened for retail subscriptions yesterday, received HK$1.2 million worth of margin orders, local brokerages said.

The Shanghai-based restaurant chain is aiming to raise HK$511.9 million.

Meanwhile, CITIC Securities - one of the sponsors of the planned public float of pinball arcade operator Dynam Japan Holdings - has valued the firm above its peers in the Japanese market.

But compared with global peers, the valuation is less than half. Dynam is seeking to raise up to HK$2 billion next month.