Specialists are expressing cautious satisfaction with the IPO of Lifestyle International, which was able to price at the mid-point of its HK$7.30 to HK$9.30 range despite recent volatility and a truncated eight-day book build period over Easter.
Lead manager BNP Peregrine Paribas managed to avoid the worst of recent market sentiment raising HK$1.497 billion $192 million via a 180 million new share deal priced on Thursday April 15 at HK$8.30 per share. Once it is listed, the company's market capitalization of $760 million will make it the largest in the Hong Kong retail sector.
The institutional tranche, closed about three times covered, while...
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