Baioo Family Interactive's initial public offering of shares priced near the bottom end of its indicative range on Thursday after weaker US technology stocks rattled retail investors.
The Chinese children’s online game operator sold 706,106,000 primary shares with an overallotment option of 105,914,000 shares at HK$2.15 a share, the low end of the initial price range of HK$2HK$2.60 when books opened Wednesday. This prices the deal at $196 million, rising to $225 million if a greenshoe option is exercised after shares list next week.
The company had sought to raise $250 million to help develop new mobile-internet educational games and to expand its...
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