China Hongqiao Group, the country’s leading aluminium producer, raised HK$6.37 billion $822 million on Friday in the largest Hong Kong IPO by a metal and mining player during the past year.
It priced the shares at HK$7.20, the bottom end of an indicated range that went up to HK$8.30. Although the company pocketed less than half of the $2.2 billion it originally looked for, bankers are pleased the deal managed to make it through the choppy market. Given the current tough market conditions, “our key satisfaction is getting the deal done”, said one banker. “It’s nice to see that investors have the courage and conviction, and...
¬ Haymarket Media Limited. All rights reserved.
