Hongguo sets offer price for $208 million IPO

Hongguo International Holdings, a Chinese shoemaker and retailer, started taking orders on Friday for a Hong Kong IPO that could allow the company to raise HK$1.62 billion $208 million.

Primary markets have picked up since early this month and several other issuers are also vying for investors’ attention. One of the biggest, Citic Securities, is planning to list on Hong Kong’s stock exchange and will start taking orders from institutional investors later this week. It is estimated to be raising up to $3 billion. Two Chinese machinery makers, Sany Heavy Industry and XCMG Construction Machinery, are also in the market, aiming to raise $3 billion and $2...