Dynasty Fine Wines Group Ltd. is hoping to raise up to HK$675m (US$86.6m) from an initial public offering. The company said yesterday (16 January) that it is offering 300m shares in a price range of between HK$1.75 and HK$2.25 each. Dynasty will follow the IPO with a listing on the Hong Kong stock exchange.

Of the shares offered, 90% will be made available to institutional investors, with the rest being offered to retail investors.

Dynasty is a joint venture between Remy Cointreau and Tianjin Development, whose business covers infrastructure, cargo handling and property development.

After the listing, Tianjin Development will hold 46.5% of Dynasty, with Remy Cointreau owning 24.75%.

Shares in the wine group are scheduled to start trading on 26 January.