Shenzhen-based electronics manufacturer Nam Tai Electronic Electrical Products NTEEP priced its IPO at HK$3.88 per share on Thursday, just above the halfway point of its HK$3.55 to HK$4.20 indicative range.
Specialists say the deal performed well, considering volatility generated by possible interest rate rises in the US and China, plus a possible slowing in China's surging growth. Investors know this company is a top-end company, with high earnings growth and is working with some of the top names in the business, such as Sony Ericsson, Sony Playstation, Canon and others, comments one observer.
The sale of 200 million old shares via sole sponsor HSBC raised HK$776 million...
