Forgame raises $206 million as the IPOs keep coming

Forgame Holdings, the Chinese online gaming company, has raised HK$1.6 billion $206 million ahead of its Hong Kong listing after receiving strong demand from institutional and retail investors.

The deal priced in the upper half of the indicated range and was the first Hong Kong IPO above $100 million to see a full clawback in favour of retail investors since Time Watch Investments’ $118 million offering in January this year.

It comes on the back of three successful Hong Kong IPOs in the consumer retail space and at a time when the Asian IPO market is taking off after the summer lull with several companies...