Building contractor opens public float

Rimbaco, a Malaysia-based building construction contractor, began its Hong Kong initial public offering today to raise up to HK$144.9 million.

The company is issuing 315 million shares at a price range of HK$0.4 and HK$0.46. The minimum investment is HK$2,323.17 per board lot of 5,000 shares.

Rimbaco is set to price the IPO on April 20 and start trading on the main board on April 28.