Changfeng Axle plans HK float

Changfeng Axle (China) Co is planning to raise HK$892 million ($115 million) from an initial public offering in Hong Kong.

The Fujian province-based autoparts maker is offering 200 million new shares at HK$3.20 to HK$4.46 apiece. Changfeng Axle plans to price its shares on Sept 17 and start trading on Sept 24.