SINGAPORE, March 17 (Reuters) - Kingboard Holdings Ltd (0148.HK) is selling about $350 million of shares in Hong Kong-listed Kingboard Laminates Holdings Ltd (1888.HK) in an accelerated bookbuild block trade, according to a term sheet seen by Reuters.
<ul>
<li>The seller is offering 130 million existing shares at HK$20.95 to HK$21.51 each, the term sheet showed. That represents a 6.5% to 8.9% discount to Kingboard Laminates’ HK$23 closing price on Tuesday.</li>
<li>Kingboard Laminates is a vertically integrated electronics materials maker, according to its website.</li>
<li>Citi is the sole bookrunner on the sale.</li>
<li>Books are open, settlement is due on Friday, and the vendor and its affiliates are subject to a 90-day lock-up, the term sheet showed.</li>
</ul>

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Kingboard Holdings launches $350 mln Kingboard Laminates block trade, term sheet shows