In what will mark the second largest listing on Hong Kong's GEM market, a 1.307 billion IPO for CK Life will formally price later today Thursday at HK$2 per share. Raising HK$2.6 billion $336 million, the deal now stands behind SUNeVision, the IT arm of the Sun Hung Kai group, as the largest flotation on Hong Kong's second market and will command a market capitalization of $1.53 billion.
Under the lead management of Salomon Smith Barney, investors were offered shares on a range of HK$1.80 to HK$2, with the retail offering for 10% of the deal closing 120 times oversubscribed and the institutional placement for the remaining 90%,...
