As investor sentiment warms on the back of the improving markets, PanAsialum Holdings and Time Watch Investments have attracted strong demand from retail investors for their respective initial public offerings.
PanAsialum, a Chinese manufacturer of iPad casings and other aluminium products, has raised HK$1.24 billion $160 million ahead of its Hong Kong listing, after fixing the price above the mid-point of the indicative range. The 10% retail tranche was more than 50 times subscribed, which triggered a clawback that boosted this portion of the deal to 40%, a source said yesterday. Accordingly, the institutional tranche was reduced to 60% from 90%.
Meanwhile, Time Watch...
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